The fair value of the portfolio at Laman Company's year end on March 31, 2020 was $314,000. Prepare the journal entry to record the fair value adjustment Date Account Title and Explanation Valuation Allowance for Fair Value Adjustment Debit Credit Mar 31 314000 X Unrealized Gain on Fair Value Adjustment . 314000 x To record fair value adjustment The fair value of the portfolio at Laman Company's year end on March 31, 2020 was $314,000. Prepare the journal entry to record the fair value adjustment Date Account Title and Explanation Valuation Allowance for Fair Value Adjustment Debit Credit Mar 31 314000 X Unrealized Gain on Fair Value Adjustment . 314000 x To record fair value adjustment