A Company Holds Available-For-Sale Corporate Bonds Purchased for $100,000

A company holds available-for-sale corporate bonds purchased for $100,000. Current value of these securities is $95,000 and the decline in value was properly recorded in OCI when the decline occurred. The company now determines that the decline in value is due to credit losses. Which statement is true concerning the adjusting entry needed to record this information?

A) No entry is made since the securities are already reported at $95,000.
B) Debit OCI and credit investments for $5,000.
C) Debit OCI and credit allowance for credit losses for $5,000.
D) Debit loss on securities (income) and credit OCI for $5,000.