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10 4.76 points 00:49:24 eBook O Hint Print References Exercise 15-6 (Algo) Fair value adjustment to available-for-sale debt securities LO P3 On December 31, Lujack Company held the following short-term available-for-sale securities. Lujack had no short-term investments prior to the current period. Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities. Complete this question by entering your answers in the tabs below. Fair Value Adjustment General Journal Computation of fair value adjustment. Available-for-Sale Securities Nintendo Company notes Atlantic bonds Kellogg Company notes McDonald's Corporation bonds Totals Computation of Fair Value Adjustment $ Cost 66,000 26,400 47,520 89,100 $ 229,020 <Fair Value Adjustment Fair Value $ 71,940 24,552 44,669 84,645 $225,806 Unrealized Amount Gain or Loss? General Journal >
10 4.76 points 00:49:12 eBook to Hint Print References Complete this question by entering your answers in the tabs below. Fair Value Adjustment Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities. (If no entry is re for a transaction/event, select "No journal entry required" in the first account field.) General Journal View transaction list Journal entry worksheet < 1 Record the year-end adjustment to fair value, if any. Note: Enter debits before credits. Date December 31 Record entry General Journal Clear entry Debit Credit View general journal >