M. Jones Inc. purchased the following available-for-sale securities during 20Y5, its first year of operations:

The fair value of the various available-for-sale securities on December 31, 20Y5, was as follows:

a. Journalize the adjusting entry for the fair value of the portfolio of securities on December 31, 20Y5.
b. If the fair value of the portfolio of securities were the same on December 31, 20Y6, what would be the journal entry to adjust the portfolio to fair value?
c. If the fair value of the portfolio of securities was $340,000 on December 31, 20Y6, what would be the journal entry to adjust the portfolio to fair value?
d. If the fair value of the portfolio of securities was $330,000 on December 31, 20Y6, what would be the journal entry to adjust the portfolio to fair value?

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Issuing Company Arden Enterprises Inc. Cost $150,000 French Broad Industries Inc. 66,000 Pisgah Construction Inc. 104,000 $320,000