Required information Use the following information for the Quick Study below. (Algo) {The following information applies to the questions displayed below) Kitty Company began operations in the current year and acquired short-term debt investments in trading securities. The year-end cost and fair values for its portfolio of these debt investments follow, Trading Securities Cost Fair Value Tesla Bonds $ 17, 100 $ 12,825 Nike Bonds 26,800 28, 140 Ford Bonds 6,700 5,360 QS 15-4 (Algo) Fair value adjustment to a portfolio of trading securities LO P1 Prepare the journal entry to record the December 31 year-end fair value adjustment for these debt securities. View transaction list Journal entry worksheet Record the year-end adjustment to fair value, if any. Note: Enter debits before credits Date Dobit Credit December 31 General Journal Fair value adjustment - AFS Fair value adjustment - AFS 4,275 4,275 Record entry Clear entry View general Journal