The Fair Value Market Adjustment Account has a current debit balance of $850. Available-for-sale investments with a cost of $10,000 have a current…
The Fair Value Market Adjustment Account has a current debit balance of $850. Available-for-sale investments with a cost of $10,000 have a current market value of $12,300. The adjusting entry will require a:
A) debit to Fair Value Market Adjustment Account for $2,300
B) credit to Fair Value Market Adjustment Account for $3,150
C) debit to Fair Value Market Adjustment Account for $1,450
D) credit to Fair Value Market Adjustment Account for $1,450
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