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3 Exercise 15-5 Fair value adjustment to available-for-sale debt securities LO P3 0.9 points On December 31, Lujack Co. 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. eBook Complete this question by entering your answers in the tabs below. Hint Fair Value Adjustment General Journal Computation of fair value adjustment. Print Computation of Fair Value Adjustment References Available-for-Sale Securities Cost Fair Value Unrealized Amount Nintendo Co. notes $ 76,200 $ 83,058 Atlantic bonds 28,346 30,480 54,864 51,572 Kellogg Co. notes McDonald's Corp. bonds Totals 102,870 97.727 $ 264,414 $ 260,703 Fair Value Adjustment General Journal Prepare the December 31 year-end adjusting entry to record the fair value adjustment for these debt securities. (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 year-end adjustment to fair value, if any. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal

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