Stone has provided the following information on its available-for-sale securities:
Aggregate cost as of 12/31/17...............$170,000
Unrealized gain as of 12/31/17...................4,000
Unrealized losses as of 12/31/17...............26,000
Net realized gains during 2017.................30,000
Prior to recording the fair value adjustment for 2017, there was a $1,500 credit balance in the contra-asset valuation account.
Required:
What is the journal entry in 2017 to record the change in value of the available-for-sale portfolio? (Ignore taxes.)