Pansee Company Had the Following Transactions Pertaining to Stock Investments

Pansee Company had the following transactions pertaining to stock investments: a.February 1,Purchased 3,000 shares of Hudson Company (10% ownership) at the market price of $17 per share.Pansee Company intends to keep the stock for more than one year and classifies the stock as available-for-sale.
B.June 1,Received cash dividends of $6,000 on Hudson Company stock.
C.June 30,End of accounting period.Fair value of Hudson Company stock is $50,000.The company uses an allowance account to adjust the investment.
What journal entry is prepared on June 30?

A) debit Unrealized Loss on Investment in Available-for-Sale Securities for $1,000 and credit Allowance to Adjust Investment in Available-for-Sale Securities to Market for $1,000
B) debit Allowance to Adjust Investment in Available-for-Sale Securities to Market for $1,000 and credit Unrealized Loss on Investment in Available-for-Sale Securities for $1,000
C) debit Unrealized Loss on Investment in Available-for-Sale Securities for $1,000 and credit Investment in Available-for-Sale Securities for $1,000
D) debit Investment in Available-for-Sale Securities for $1,000 and credit Unrealized Gain on Investment in Available-for-Sale Securities for $1,000