A company has notes receivable, classified as non-current, that has a fair value of $920,000 at 12/31/14 and an acquisition cost of $710,000. Management decided at the acquisition date, to use the fair value option for this recently-acquired receivable, but has made no adjustments to the general ledger account since the acquisition.. Using the T-account template below, in T-account format: Record the acquisition cost of the Note Receivable. Label it “BAL” for balance. Record the adjusting entry, if any, at 12/31/14.