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The accounting records of Jamaican Importers, Inc., at January 1, 2018, included the following Assets: Investment in IBM common shares Less: Fair value adjustment $1,445,000

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The accounting records of Jamaican Importers, Inc., at January 1, 2018, included the following Assets: Investment in IBM common shares Less: Fair value adjustment $1,445,000 (155,000) $1,290,000 No changes occurred during 2018 in the investment portfolio Required: Prepare appropriate adjusting entry/s) at December 31, 2018, assuming the fair value of the IBM common shares was 1 $1,199,000 2. $1,299,000 3. $1,460,000

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