Zorro Foods have provided following information about its portfolio, where the securities are classified as available for sale. Security Cost(S) Fair Value($) Fair Value($) 31.12.2016 31.12.2017 Apple 33,600 31,000 0.00 (sold) Banana 175,000 174,000 178,000 Crisp 59,400 68,500 69,500 Total 268,000 273,500 247,500 December 31, 2015, securities fair value adjustment balance Dr. 5,400 On January 20, 2017, Zorro sold Apple for $31,100. The sale proceeds are net of brokerage fees. Instructions (a) Prepare the adjusting entry at December 31, 2016, to report the portfolio at fair value. (b) Prepare the journal entry for the 2017 sale of Apple. (c) Prepare the adjustment entry for December 31, 2017