The accounting records of Jamaican Importers, Incorporated, at January 1, 2024, included the following: Assets: Investment in IBM common shares Less: Fair value adjustment No changes occurred during 2024 in the investment portfolio. $ 1,845,000 (195,000) $ 1,650,000 Required: 1. Prepare appropriate adjusting entry(s) at December 31, 2024, assuming the fair value of the IBM common shares was $1,315,000. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < Record the fair value adjustment assuming the fair value of the IBM common: shares was $1,315,000. Note: Enter debits before credits. < Prev 7 8 9 of 13 Next > The accounting records of Jamaican Importers, Incorporated, at January 1, 2024, included the following: Assets: Investment in IBM common shares Less: Fair value adjustment No changes occurred during 2024 in the investment portfolio. $ 1,845,000 (195,000) $1,650,000 2. Prepare appropriate adjusting entry(s) at December 31, 2024, assuming the fair value of the IBM common shares was $1,750,000. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < Record the fair value adjustment assuming the fair value of the IBM common. shares was $1,750,000. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit S < Prev 8 9 of 13 Next > The accounting records of Jamaican Importers, Incorporated, at January 1, 2024, included the following: Assets: Investment in IBM common shares Less: Fair value adjustment $ 1,845,000 (195,000) No changes occurred during 2024 in the investment portfolio. $ 1,650,000 3. Prepare appropriate adjusting entry(s) at December 31, 2024, assuming the fair value of the IBM common shares was $1,850,000. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 Record the fair value adjustment assuming the fair value of the IBM common shares was $1,850,000. Note: Enter debits before credits Transaction General Journal Debit Cretit < Prev 9 8 a of 13 Next >