(Answered) Question - on june 30 a business has the following

Accounting

Question - On June 30, a business has the following information regarding its long-term investments that qualify as available for sale securities:

Cost Market value

ABC Co. 100,000 125,000

XYZ Co. 100,000 90,000

On June 30, the following unadjusted account balances exists:

Fair value adjustment $5,000 credit

Unrealized loss $5,000 debit

Please help me create the necessary journal entries to record the adjustment to fair market value on June 30.

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