Exercise 17-11 Stellar Corporation made the following cash purchases of securities during 2017, which is the first year in which Stellar invested in securities. On January 15, purchased 10,250 shares of Sanchez Company's common stock at $36.90 per share plus commission $2,230 On April 1, purchased 5,250 shares of Vicario Co.'s common stock at $57.20 per share plus commission $3,620 3 On September 10, purchased 7,250 shares of WTA Co.'s preferred stock at $29.20 per share plus commission 5,160 On May 20, 2017, Stellar sold 4,250 shares of Sanchez Company's common stock at a market price of $39 per share less brokerage commissions, taxes, and fees of $4,100. The year-end fair values per share were Sanchez 33, Vicario $61, and WTA $30.80. In addition, the chief accountant of Stellar 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. Your answer is correct. 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 ndent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Your answer is partially correct. Try again. Prepare the journal entry for the security sale on May 20. (Round answers to O 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 O for the amounts.) Your answer is partially correct. Try again. Compute the unrealized gains or losses. (Round answer to 0 decimal places, e.g. 2,5oo.) Prepare the adjusting entries for Stellar on December 31, 2017. (Round answers to O decimal places, e.g. 2,500. Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts