Journ Co. purchased short-term investments in available-for-sale debt securities at a cost of $51,000 cash on...

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Journ Co. purchased short-term investments in available-for-sale debt securities at a cost of $51,000 cash on November 25. At December 31, these securities had a fair value of $49,000. This is the first and only time the company has purchased such securities. 1. 2. & 3. Prepare the November 25 entry to record the purchase of debt securities, the December 31 year-end adjusting entry for the securities' portfolio, and the April 6 entry when Journ sells 8% of these securities ($4,080 cost) for $6,000 cash. View transaction list Journal entry worksheet 1 2 3 Record purchase of available-for-sale securities. Note: Enter debits before credits. Date Nov. 25 General Journal Debit Credit Record entry Clear entry View general journal Journ Co. purchased short-term investments in available-for-sale debt securities at a cost of $51,000 cash on November 25. At December 31, these securities had a fair value of $49,000. This is the first and only time the company has purchased such securities. 1. 2. & 3. Prepare the November 25 entry to record the purchase of debt securities, the December 31 year-end adjusting entry for the securities' portfolio, and the April 6 entry when Journ sells 8% of these securities ($4,080 cost) for $6,000 cash. View transaction list Journal entry worksheet 1 2 3 Record purchase of available-for-sale securities. Note: Enter debits before credits. Date Nov. 25 General Journal Debit Credit Record entry Clear entry View general journal