Fair Value $30,000 $27,500 $25,000 $22.500 January 1: $23,000 $20,000 $17,500 $15,000 January 1 December 31 December 31: $25,600 December 31 1 Record the purchase of stock investments with insignificant influence on January 1. Note: Enter debits before credits. Date Jan 01 General Journal Debit Credit View general journal Record entry Clear entry 7 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the fair value of Sterling's portfolio of stock investments on December 31 of this year? Fair value Does Sterling record a gain or loss in its December 31 year-end adjusting entry to report its stock investment Does Sterling record a gain or loss in its December 31 year-end adjusting entry to report its stock investments with insignificant influence at fair value