Exercise 17-23 Bridgeport Company in its first year of operations provides the following information related to one of its available-for-sale debt securities at December 31, 2020. Amortized cost Fair value Expected credit losses $51,300 42,600 12,700 Your answer is correct. What is the amount of the credit loss that Bridgeport should report on this available-for-sale security at December 31, 2020? Amount of the credit loss 8700 Your answer is partially correct. Try again. Prepare the journal entry to record the credit loss, if any (and any other adjustment needed), at December 31, 2020. (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.) Debit Credit Date Account Titles and Explanation December 31, 2020T 2020 Bad Debt Expense - 8700 8700) Fair Value Adjustment 8700 PPP Loss on Impairment 8700 Unrealized Holding Gair 8700 SHOW LIST OF ACCOUNTS LINK TO TEXT Exercise 17-23 Bridgeport Company in its first year of operations provides the following information related to one of its available-for-sale debt securities at December 31, 2020. Amortized cost Fair value Expected credit losses $51,300 42,600 12,700 Your answer is correct. What is the amount of the credit loss that Bridgeport should report on this available-for-sale security at December 31, 2020? Amount of the credit loss 8700 Your answer is partially correct. Try again. Prepare the journal entry to record the credit loss, if any (and any other adjustment needed), at December 31, 2020. (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.) Debit Credit Date Account Titles and Explanation December 31, 2020T 2020 Bad Debt Expense - 8700 8700) Fair Value Adjustment 8700 PPP Loss on Impairment 8700 Unrealized Holding Gair 8700 SHOW LIST OF ACCOUNTS LINK TO TEXT