At December 31, 2012, the fair value of available for- sale securities is $41,300 and the cost is $39,800. At January 1, 2012, there was a credit balance of $900 in the Market Adjustment-Available for- Sale account. The required adjusting entry would be:
(a) Debit Market Adjustment-Available-for-Sale for $1,500, and credit Unrealized Gain or Loss- Equity for $1,500.
(b) Debit Market Adjustment-Available-for-Sale for $600, and credit Unrealized Gain or Loss-Equity for $600.
(c) Debit Market Adjustment-Available-for-Sale for $2,400, and credit Unrealized Gain or Loss- Equity for $2,400.
(d) Debit Unrealized Gain or Loss-Equity for $2,400, and credit Market Adjustment-Availablefor- Sale for $2,400.