At December 31, 2018, Atlanta Company has an equity portfolio valued at $160,000. Its cost was $132,000. If the Securities Fair Value Adjustment has a debit balance of $8,000, which of the following journal entries is required at December 31, 2018?
Select one:
a. Fair Value Adjustment 28,000 Unrealized Holding Gain or Loss-Income 28,000
b. Unrealized Holding Gain or Loss-Income 20,000 Fair Value Adjustment 20,000
c. Unrealized Holding Gain or Loss-Income 28,000 Fair Value Adjustment 28,000
d. Fair Value Adjustment 20,000 Unrealized Holding Gain or Loss-Income 20,000
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