*Exercise 17-11 Headland Corporation made the following cash purchases of securities during 2017, which is the first year in which Headland invested in securities. 1. On January 15, purchased 10,160 shares of Sanchez Company's common stock at $36.90 per share plus commission $2,140 2. On April 1, purchased 5,160 shares of Vicario Co.'s common stock at $57.20 per share plus commission $3,530. 3. On September 10, purchased 7,160 shares of WTA Co.'s preferred stock at $29.20 per share plus commission $5,070. On May 20, 2017, Headland sold 4,160 shares of Sanchez Company's common stock at a market price or $39 per share less brokerage commissions, taxes, and fees of $4,010The year-end fair values per share were sanchez 33. Vicario $61, and WTA $30.80. In addition, the chief accountant of Headland 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.) No. Date Account Titles and Explanation Debit Credit (1) Jan. 15, 2017 Debt Investments 377044 Cash 377044 (2) Apr. 1, 2017 Debt Investments 298682 298682 10, 2017 Debt Investments 214142 214142 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.) Date Account Titles and Explanation Debit Credit May 20, 2017 Cash 158230 Gain on Sale of Investments 3850 Debt Investments 154380 Compute the unrealized gains or losses. (Round answer to 0 decimal places, e.g. 2,500.) Unrealized Prepare the adjusting entries for Headland 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.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 Questiorn