ity Method Securities Saved Help ! Required information Problem 15-3A Debt investments in available-for-sale securities; unrealized and realized gains and losses LO P3 (The following information applies to the questions displayed below) Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the following Available-for-saxo Securition Company A bonds $532,300 $490,000 Company C bonds 662,500 Cost Fair Value Company B notes 159,080 148,000 649,600 Stoll enters into the following transactions involving its available-for-sale debt securities this year. Jan. 29 Sold one-half of the Company notes for $78,920. July 6 Purchased bonds of Company x for $122,500. Nov. 13 Purchased notes of Company 2 for $267,700. Dee. 9 Sold all of the bonds of Company for $516,900. The fair values at December 31 are B. $84,000; C. $600,600; X, $113,000; ond Z. $280,000 Required: 1. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities, 2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term Investments in available-for-sale securities. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. View transaction list View journal entry worksheet No Date Debit Credit 1 Jan 29 General Journal Cash Loss on sale of debt investments Required information Determine the amount Stoll reports on its December 31 balance sheet for its long-term Investments in available-for-sale securities. Fair Value Adjustment Computation Available-for-Sale Securities December 31 AFS Securities Cost Unrealized Fair Value Gain or Loss? Amount Company B notes 79,540 $ 84,000 Company C bonds 662,500 600,600 Company X bonds 122,500 113,000 Company Z notes 267,700 280,000 Total $ 1,132,240 $ 1,077,600 $ 54,640 Loss $ 54,640 Credit Required 2 December 31 Balance in the Fair Value Adjustment account Balance at beginning of year in the Fair Value Adjustment account December 31 required adjustment to the Fair Value Adjustment account 66,280 Debit Debit $ 11,640 Fair Value Adjustment(AFS) 66,280 Balance at beginning of year Dec 31 year and adjustment Balance at end of year 11.640 54,640 3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securities does Stoll report on its income statement for this year