Journal entries to apply the market value method for short-term investments in securities.

Events related to Simmons Corporation's investments of temporarily excess cash appear below. The firm classifies these investments as Securities Available for Sale.

Date Acquired Acquisition Cost Market Value on December 31 Date Sold Security Year 6 Year 7 Selling Price S

T U

6/13/Year 6 6/13Aear 6 6/13/Year 6

$12,000 29,000 43,000

$13,500 26,200

$15,200 31,700 2/15/Year 8 8/22/Year 8 10/11/Year 6

$14,900 28,500 39,000 None of these three securities paid dividends. Prepare dated journal entries for the events related to these investments, assuming that the accounting period is the calendar year.

a. Acquisition of securities

b. Revaluation on December 31

c. Sale of securities