Exercise 17-22 Blue Company has the following investments as of December 31, 2017: Investments in common stock of Laser Company $1,350,000 Investment in debt securities of FourSquare Company $3,280,000 In both investments, the carrying value and the fair value of these two investments are the same at December 31, 2017. Blues stock investments does not result in significant influence on the operations of Laser Company. Blues debt investment is considered held-to-maturity. At December 31, 2018, the shares in Laser Company are valued at $890,000; the debt investment securities of FourSquare are valued at $2,460,000. Assume that these investments are considered impaired. Prepare the journal entries for these two securities at December 31, 2018, assuming that they are permanently impaired. (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, 2018 (Entry for investments in Laser Company) (Entry for of investments in FourSquare Company) SHOW LIST OF ACCOUNTS LINK TO TEXT Assuming the fair value of the Laser shares is $1,250,000 and the value of its debt investment is $2,920,000, what entries, if any, should be recorded in 2019 related to impairment? (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, 2019 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entries at December 31, 2018, assuming these securities are not permanently impaired. (Ignore interest revenue entries.) (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, 2018 (Entry for investments in Laser Company) (Entry for investments in FourSquare Company) SHOW LIST OF ACCOUNTS LINK TO TEXT Assume that the debt investment in FourSquare Company was available-for-sale and the expected credit loss was $920,000. Prepare the journal entry to record this impairment on December 31, 2018. (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