At December 31, 2025, the fair value of non-trading securities is €41,300 and the cost is €39,800. At January 1, 2025, there was a credit balance of €900 in the Fair Value Adjustment—

Non-Trading account. The required adjusting entry would be:

a. Debit Fair Value Adjustment—Non-Trading for €1,500 and credit Unrealized Gain or Loss—

Equity for €1,500.

b. Debit Fair Value Adjustment—Non-Trading for €600 and credit Unrealized Gain or Loss—

Equity for €600.

c. Debit Fair Value Adjustment—Non-Trading for €2,400 and credit Unrealized Gain or Loss—

Equity for €2,400.

d. Debit Unrealized Gain or Loss—Equity for €2,400 and credit Fair Value Adjustment—Non-

Trading for €2,400.