Headland Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions.

Feb. 1, 2020		Sharapova Company common stock, $110 par, 220 shares		$36,200
April 1		U.S. government bonds, 12%, due April 1, 2030, interest payable April 1 and October 1, 96 bonds of $1,000 par each		96,000
July 1		McGrath Company 12% bonds, par $47,600, dated March 1, 2020, purchased at 104 plus accrued interest, interest payable annually on March 1, due March 1, 2040		51,408

(a)

Prepare entries necessary to classify the amounts into proper accounts, assuming that the debt securities are classified as available-for-sale. (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
Interest RevenueFair Value AdjustmentCashUnrealized Holding Gain or Loss - IncomeGain on Sale of InvestmentsUnrealized Holding Gain or Loss - EquityNo EntryDebt InvestmentsInvestmentEquity InvestmentsInterest Receivable
No EntryInterest ReceivableDebt InvestmentsGain on Sale of InvestmentsInterest RevenueEquity InvestmentsUnrealized Holding Gain or Loss - EquityFair Value AdjustmentInvestmentCashUnrealized Holding Gain or Loss - Income
InvestmentInterest RevenueUnrealized Holding Gain or Loss - EquityGain on Sale of InvestmentsNo EntryFair Value AdjustmentUnrealized Holding Gain or Loss - IncomeDebt InvestmentsInterest ReceivableCashEquity Investments
CashUnrealized Holding Gain or Loss - EquityNo EntryEquity InvestmentsFair Value AdjustmentGain on Sale of InvestmentsInterest ReceivableInvestmentUnrealized Holding Gain or Loss - IncomeInterest RevenueDebt Investments

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