Question: PLEASE HELP During the current year, Reed Consulting Group acquired long-term available-for-sale securities at a $85,000 cost. At its December 31 year-end, these securities had

PLEASE HELP

During the current year, Reed Consulting Group acquired long-term available-for-sale securities at a $85,000 cost. At its December 31 year-end, these securities had a fair value of $71500. This is the first and only time the company purchased such securities Prepare the necessary year-end adjusting entry related to these 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 Record the year-end adjusting entry for the securities portfolio Note: Enter debits before credits General Journal Debit Credit Date Dec 31 Record entry Clear entry View general Journal

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