How to solve B

In January 2022, the management of Blossom Company concludes that it has sufficient cash to purchase some short-term imvestments in debt and stock securities. During the year, the following transactions occurred. Jan. 1 Purchased 75$1,000,8% TRC bonds for $75,000. Interest is payable annually on December 31. Feb. 1 Purchased 1,265 shares of LAF common stock for $51,865. Mar. 1 Purchased 530 shares of NCL common stock for $18,020. July 1 Received a cash dividend of $0.80 per share on the LAF common stock. Aug. 1 Sold 188 shares of LAF common stockat $40 per share. Sept. 1 Received $2 per share cash dividend on the NCL common stock Dec. 31 Received the annul interest on the TRC bonds. 31 Sold the TRC bonds for $80,478. At December 31, the fair values of the LAF and NCL common stocks were $37 and $27 per share, respectively. These stock imvestments by Blossom Company provide less than a 20% ownership interest. Journalizs the above transactions. (Record journal entries in the order presented in the problem. Credit account tities are automatically indented when the amount is entered. Do not indent manuallk. If no entrv is reauired. select "No Entrv" for the account titles and enter O for Poat to the accounts Debt Inwestmants and Stock Imvastments. (If the balance is zero (0) select date from the drop down and enter 0 for the amount in the column that represents the normal balance for the account.) Your anaver is partially corract. Prepars the acjusting entry at December 31,2022 , to report the imestments at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manualks. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts