Exercise 17-11 Bonita Corporation made the following cash purchases of securities during 2017, which is the first year in which Bonita invested in securities. On January 15, purchased 10,190 shares of Sanchez Company's common stock at $36.90 per share plus commission $2,170. 1. On April 1, purchased 5,190 shares of Vicario Co.'s common stock at $57.20 per share plus commission $3,560. 2. On September 10, purchased 7,190 shares of WTA Co.'s preferred stock at $29.20 per share plus commission $5,100 3. On May 20, 2017, Bonita sold 4,190 shares of Sanchez Company's common stock at a market price of $39 per share less brokerage commissions, taxes, and fees of $4,040. The year-end fair values per share were Sanchez $33, Vicario $61, and WTA $30.80. In addition, the chief accountant of Bonita told you that the corporation plans to hold these securities for the long-term but may sell them in order to earn profits from appreciation in prices. The equity method of accounting is not appropriate for these stock purchases. Prepare the journal entries to record the above three security purchases. (Round answers to 0 decimal places, e.g. 2,500. 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.) Account Titles and Explanation Debit Credit No. Date Jan. 15, 2017 Equity Investments (1) 378181 Cash 378181 (2) Apr. 1, 2017 Equity Investments 300428 Cash 300428 (3) Equity Investments Sep. 10, 2017 215048 Cash 215048 13x Prepare the journal entry for the security sale on May 20. (Round answers to 0 decimal places, e.g. 2,500. 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.) Account Titles and Explanation Debit Credit Date May 20, 2017 Cash 159370 Equity Investments Gain on Sale of Investments SHOW LIST OF ACCOUNTS LINK T Compute the unrealized gains or losses. (Round answer to 0 decimal places, e.g. 2,500.) Unrealized Prepare the adjusting entries for Bonita on December 31, 2017. (Round answers to 0 decimal places, e.g. 2,500. 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.) Account Titles and Explanation Debit Credit Date Dec. 31, 2017