2. Required information Problem 15-2A Recording, adjusting, and reporting available-for-sale debt securities LO P3 The following information applies to the questions displayed below) Mead Inc began operations in Year 1, following is a series of transactions and events involving its long-term debt Investments in available for sale securities, Part 2 of 3 0.5 points Year 1 Jan. 20 Purchased Johnson & Johnson bonds for $20,500 Feb. 9 Purchased notes of Sony for $55,440 June 12 Purchased bonds of Mattel for $40.500. Dec. 31 Fair values for debt in the portfolio are Johnson & Johnson, $21.500; Sony, 552,500; and Mattel, $45, 358. ebook Year 2 Apr. 15 Sold all of the bonds of Johnson & Johnson for $23.500 July 5 sold all of the bonds of Mattel for $35,850. July 22 Purchased notes of Sara Lee for $13,500. Aug. 19 Purchased bonds of Kodak for $15.300. Dec. 31 Fair values for debt in the portfolio are Kodak, $17,325; Sara Lee, $12,000; and Sony, S60,000. Deference Year 3 Feb. 27 Purchased bonds of Microsoft for $160, June 21 Sold all of the notes of Sony for $57,600. June 30 Purchased bonds of Black & Decker for $50, 400 Aug. 3 Sold all of the notes of Sara Lee for $9.750 Nov. 1 Sold all of the bonds of Kodak for $20,475. Dec. 31 Fair values for debt in the portfolio are Black & Decker. $54,600, and Microsoft. 5158,600. Problem 15-2A Part 2 2. Complete the following table that summarizes the total costo total fair value adjustment, and a total fair value of the portfolio of long-term available for sale debt securities at each year-end. (Loss amounts should be indicated with a minus sign.) 1231/Yt1 12/31/YL 2 123tru a Dabinets Long-Term AFS Securities (cs) Fairvau nustment-AFS Long Term AFS Secues Faro $ 0 $ 0 $ 0 M