On May 15, 2020, Croissant Corp

Multiple Choice

On May 15, 2020, Croissant Corp. purchased 1,000 common shares of Holter Inc. for $ 24,000, as a Fair Value through Net Income (FV-NI) equity investment. At December 31, 2020, the fair value of these shares was $ 23,100. The required adjusting entry to reflect this fact is

A) debit Fair value-Net Income Investment, credit Holding Gain on Investment (OCI) $ 23,100.
B) debit Holding Gain on Investment (OCI) , credit Fair value-Net Income Investment $ 23,100.
C) debit Fair value-Net Income Investment, credit Investment Income $ 15,900.
D) debit Investment Loss, credit Fair value-Net Income Investment $ 900.