Skyline, Inc., purchased a portfolio of trading securities during the current fiscal year. The cost and fair value of this portfolio on December 31 were as follows:

Issuing Company	Total Cost	Total Fair Value
Alcon, Inc.	$16,000	$15,000
Easton Company	23,000	21,500
Panther Company	9,000	9,200
Total	$48,000	$45,700

Required:

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a. Journalize the adjusting entry for the fair value of the trading securities on December 31. If an amount box does not require an entry, leave it blank.

Dec. 31		- Select -	- Select -
		- Select -	- Select -

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