At December 31, 2017, the available-for-sale debt portfolio for Flounder, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $35,000 $30,000 $(5,000 ) B 25,000 28,000 3,000 C 46,000 51,000 5,000 Total $106,000 $109,000 3,000 Previous fair value adjustment balanceDr. 800 Fair value adjustmentDr. $2,200 On January 20, 2018, Flounder, Inc. sold security A for $30,200. The sale proceeds are net of brokerage fees. Part 1 Prepare the adjusting entry at December 31, 2017, to report the portfolio at fair value Show the balance sheet presentation of the investment-related accounts at December 31, 2017. Prepare the journal entry for the 2018 sale of security A. (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 0 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 20, 2018