Exercise 17-9 At December 31, 2013, the available-for-sale equity portfolio for Steffi Graf, Inc. is as follows. Security Cost Fair Value Unrealized Gain (Loss) A $23,153 $19,845 $(3,308 ) B 16,538 18,522 1,984 C 30,429 33,737 3,308 Total $70,120 $72,104 1,984 Previous fair value adjustment balanceDr. 265 Fair value adjustmentDr. $1,719 On January 20, 2014, Steffi Graf, Inc. sold security A for $20,242. The sale proceeds are net of brokerage fees. Correct answer. Your answer is correct. Prepare the adjusting entry at December 31, 2013, to report the portfolio at fair value. (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 Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Entry field with correct answer Show List of Accounts Show Solution Link to Text Partially correct answer. Your answer is partially correct. Try again. Show the balance sheet presentation of the investment-related accounts at December 31, 2013. (Do not leave any answer field blank. Enter 0 for amounts.) STEFFI GRAF, INC Balance Sheet As of December 31, 2013 Entry field with incorrect answer now contains modified data Entry field with correct answer $ Entry field with incorrect answer now contains modified data Entry field with correct answer Entry field with correct answer Entry field with incorrect answer now contains modified data Entry field with correct answer Entry field with incorrect answer Entry field with correct answer Entry field with incorrect answer Entry field with incorrect answer Entry field with correct answer : Entry field with correct answer Entry field with incorrect answer now contains modified data Entry field with correct answer $ Entry field with incorrect answer Show List of Accounts Link to Text Partially correct answer. Your answer is partially correct. Try again.