Dropbox on the left and fill in the blanks on the right.

Fair Value Journal Entries, Available-for-Sale Investments The investments of Steelers Inc. include a single investment: $400,000 of Bengals Inc. 5% bonds purchased at 100 on January 1,20Y7. These bonds were classified as available-for-sale securities. As of the December 31 , 20Y7, balance sheet date, the fair value of the bonds declined to $392,800. a. Journalize the entries to acquire the investment on January 1, 20Y7, and record the adjustment to fair value on December 31,20Y7. If an amount box does not require an entry, leave it blank. b. How is the unrealized gain or loss for available-for-sale investments disclosed on the financial statements? Unrealized Gain (Loss) on Available-for-Sale Investments is reported in the of the Fair Value Journal Entries, Available-for-Sale lnvestmerits The investments of Steelers Inc, include a single investment: 5400,000 of Bengais Inc. 5\% bonds purchased at 100 on January 1, 20r7. These bonds were classified as available-foc-male securitues, As of the December 31, 20y7, balance sheet date, the fair value of the bonds declined to $392,800. a. Jourmalize the entries to acquire the investment on January 1, 20r7, and record the adjustment to fair value on Docember 31, 20Y7. If an amount bex does not requine an entry, leave it blank. Fair Value Journal Entries, Available-for-Sale Investments The investments of Steelers Inc. include a single investment: $400,000 of Bengais inc. 5% bonds purchased at 100 on January 1,20Y7. These bonds were classified as avaliable-for-sale securities. As of the December 31,20Y7, balance sheet date, the fair value of the bonds declined to $392,800. a. Journalize the entries to acquire the investment on January 1, 20Y7, and record the adjustment to fair value on December 31,20Y7. If an amount box does not require an entry, leave it blank. Fair Value Journal Entries, Available-for-Sale Investments The investments of Steelers Inc. include a single investment: $400,000 of Bengals Inc. 5% bonds purchased at 100 on January 1, 20Y7. These bonds were classified as avallable-for-5ale securities. As of the December 31 , 20Y7, balance sheet date, the fair value of the bonds declined to $392,800. a. Journalize the entries to acquire the investment on January 1, 20Y7, and record the adjustment to fair value on December 31,20Y7. If an amount box does not require an entry, leave it blank. Juve? dinns 1 Joter Per 11 Fair Value Journal Entries, Available-for-Sale Investrsents The investments of Steelers Inc. include a single investment: $400,000 of Bengais Inc. 5% bonds purchased at 100 on January 1, 20Y7. These bonds were classified as avallable-for-sale securities, As of the December 31, 20r7, balance sheet date, the fair value of the bonds declined to $392,800. a. Joumalize the entries to acquire the investment on January 1, 20Y7, and record the adjustment to fair value on December 31,2087 . If an amount box does not require an entry, leave it blank. 2ov? sin1 2err? Dec: 31 Fair Value Journal Entries, Available-for-Sale Investments The investments of Steelers Inc. include a single investment: $400,000 of Bengals Inc. 5% bonds purchased at 100 on January 1,20Y7. These bonds were classified as available-for-sale securities. As of the December 31,20Y7, balance sheet date, the fair value of the bonds declined to $392,800. a. Journalize the entries to acquire the investment on January 1, 20Y7, and record the adjustment to fair value on December 31,20Y7. If an amount box does not require an entry, leave it blank. 20Y7 Jan. 1 20Y7 Dec. 31 b. How is the unrealized gain or loss for available-for-sale investments disclosed on the financial statements? Unrealized Gain (Loss) on Available-for-Sale Investments is reported in the of the Fair Value Journal Entries, Available-for-Sale Investments The investments of Steelers Inc. include a single investment: $400,000 of Bengals Inc. 5% bonds purchased at 100 on January 1,20Y7. These bonds were classified as available-for-sale securities. As of the December 31 , 20Y7, balance sheet date, the fair value of the bonds declined to $392,800. a. Journalize the entries to acquire the investment on January 1, 20Y7, and record the adjustment to fair value on December 31,20Y7. If an amount box does not require an entry, leave it blank. 20Y7 Jan. 1 20Y7 Dec. 31 b. How is the unrealized gain or loss for available-for-sale investments disclosed on the financial statements? Unrealized Gain (Loss) on Available-for-Sale Investments is reported in the of the