Use the following information for the Quick Study below.

[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.

Portfolio of Trading Securities			Cost				Fair Value
	Tesla Bonds			$	12,600			$	9,450
	Nike Bonds				20,800				21,840
	Ford Bonds				5,200				4,160

QS 15-4 Fair value adjustment to a portfolio of trading securities LO P1

Prepare journal entry to record the December 31 year-end fair value adjustment for the debt securities

Date	General Journal	Debit	Credit
Dec 31st