B & L Company Has a Credit Balance of $44,000 $\begin{array}{llr} \text { Long-Term Investments} &8,000\\ \text { Realized Gain on Long-Term Investments} &&8,000\\\end{array}$

B & L Company has a credit balance of $44,000 in its Allowance to Adjust Long-Term Investments to Market account at the end of 20xx,before adjustment.Its investment portfolio has a total cost of $300,000 and a market value of $264,000 at December 31,20xx,a balance sheet date.The year-end adjustment entry that would be recorded in the books of B&L Company is:

A) $\begin{array}{llr} \text { Long-Term Investments} &8,000\\ \text { Realized Gain on Long-Term Investments} &&8,000\\\end{array}$

B)
$\begin{array}{llr} \text { Allowance to Adjust Long-Term Investments to Market } &8,000\\ \text { Unrealized Loss on Long-Term Investments } &&8,000\\\end{array}$

C)
$\begin{array} { l c } \text { Unrealized Loss on Long-Term Investments } & 8,000 \\\text { Allowance to Adjust Long-Term Investments to Market } & 8,000\end{array}$
D)
$\begin{array}{lc}\text { Long-Term Investments } & 8,000 \\\text { Allowance to Adjust Long-Term Investments to Market } & 8,000\end{array}$