Fair Value Journal Entries, Available-for-Sale Investments The investments of Steelers Inc. include a single investment: 12,800 shares of Bengals Inc. common stock purchased on September 12, 20Y7, for $13 per share including brokerage commission. These shares were classified as available-for-sale securities. As of the December 31, 2017, balance sheet date, the share price declined to $11 per share. a. Journalize the entries to acquire the investment on September 12, and record the adjustment to fair value on December 31, 2017 2017 Sept. Investments-Bengals Inc. Stock 12,800 x 12 Cash 12,800 x 2017 Dec. Unrealized Gain (Loss) on Available-for-Sale Investments 31 25,600 Valuation Allowance for Available-for-Sale Investments 25,600 Feedback b. How is the unrealized gain or loss for available-for-sale investments disclosed on the financial statements? Unrealized Gain (Loss) on Available for Sale Investments is reported in the Stockholders' Equity section of the balance sheet