Bullet Bob Company has the following securities in its available-for- sale portfolio on December 31 of year 1. All securities are purchased during year 1:

Bullet Bob acquired and sold securities from this portfolio during year 2. Specifically, on June 3, the company sold 7,500 shares of Dolt Corporation stock for $ 20 per share. On November 9, Bullet Bob acquired 4,000 shares of FOAH Stores€™ common stock for $ 81 per share. The Bullet Bob Company portfolio of available- for- sale equity securities on December 31 of year 2 is presented below.

Required
a. Prepare the entry to record the acquisition of the investments in year 1.
b. Prepare the journal entry to adjust the portfolio to fair value at the end of year 1.
c. Prepare the journal entry to record the sale of the Dolt Corporation common shares.
d. Prepare the journal entry to record the acquisition of the FOAH common stock.
e. Prepare the journal entry to adjust the portfolio to fair value at the end of year 2.

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Description Dolt Corporation common stock: 15,000 shares Single JA common stock: 200,000 shares Cost Fair Value S 345,000 S 259,000 1.000,000 00,500 $1,345,000 2,059,500 Portfolio Totals Description Dolt Corporation common stock: 7500 shares Single JA common stock: 200,000 shares FOAH common stock: 4,000 shares Cost Fair Value 172,500 157000 1,000,000 400,850 324,000344,000 $1,496.500 S1.901,850 Portfolio Totals