0.JT View Policies Show Attempt History Current Attempt in Progress Sarasota Company has the following investments as of December 31, 2020: Investments in common stock of Laser C Company $1,390,000 Investment in debt securities of Four Square Company $3,320,000 In both investments, the carrying value and the fair value of these two investments are the same at December 31, 2020. Sarasota's stock investments does not result in significant influence on the operations of Laser Company, Sarasota's debt investment is considered held-to-maturity. At December 31, 2021, the shares in Laser Company are valued at $1,010,000; the debt investment securities of FourSquare are valued at $2,520,000 and are considered impaired. Your answer is partially correct. Prepare the journal entry to record the impairment of the debt securities at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31 2023 300000 = stock investments does not result in significant influence on the operations of Laser Company. Sarasota's debt investment is considered held-to-maturity. At December 31, 2021, the shares in Laser Company are valued at $1,010,000; the debt investment Securities of FourSquare are valued at $2,520,000 and are considered impaired. Your answer is partially correct. Prepare the journal entry to record the impairment of the debt securities at December 31, 2021. (Credit account tities are automatically indented when amount is entered, Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit Date Dec 31, 2021 I 800000 Debt Inwestments B00000 Assuming the fair value of the Laser shares is $1.290,000 and the value of its debt investment is $3,000,000, what entries, it any, should be recorded in 2022 related to impairment? (Credit account titles are automatically Indented when amount is entered, Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Dec. 31. 100000 2022 Gain on Sale of Investments 100000 e Textbook and Media List of Accounts Your answer is partially correct. Assume that the debt investment in Four Square Company was available-for-sale and the expected credit loss was $900,000. Prepare the journal entry to record this impairment on December 31, 2021. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Account Tities and Explanation Accumulated Other Comprehensive Loss 900000 sale 900000