During the current year, Reed Consulting acquired long-term available-for-sale debt securities on July 1 at a $86,000 cost. At its December 31 year-end, these securities had a fair value of $72,400. This is the first and only time the company purchased such securities. Prepare the July 1 entry to record the purchase of these debt securities. 2. Prepare the year-end adjusting entry related to these securities. Journal entry worksheet Record purchase of available-for-sale securities. Note: Enter debits before credits