make sure there is 12 correct journal entries and please follow instructions and please make the answers easy to follow and read

At the beginning of 2019, Ace Compary had the following portfolio of investments in available-for-sale debt securities (all of which were acquired at par value): During 2019, the following transactions occurred: Required: 1. Prepare joumal entries to record the preceding intormation. 2. What is the balance in the Unrealized Holding GainLoss account on December 31, 2019? 3. Next Level What justification does the FASB give for its treatment of unrealized holding gains and losses for available-for-sale securibies? CHART OF ACCOUNTS Ace Company General Ledger 141 Inventory EXPENSES 151 Supplies 500 Cost of Goods Sold 152 Prepaid Insurance 511 Insurance Expense 512 Utilities Expense LIABILITIES 513 Delivery Expense 211 Accounts Payable 515 Supplies Expense D21 Notes Payable 521 Advertising Expense 224 Interest Payable 523 Salaries Expense 231 Salaries Payable 531 Bad debt Expense 539 Miscellaneous Expenses EQUITY 540 Interest Expense 311 Common Stock 331 Retained Earnings 391 Unrealized Holding Gain/Loss: Available-for-Sale Securities 1. Prepare journal entries to record the 2019 transactions. General Journal Instructions General Joumal X 2. What is the balance in the Unrealized Holding Gain/Loss account on December 31, 2019? 3. What justfication does the FASB give for its treatment of unrealized holding gains and losses for avallable-for-sale secuntios? FASB requires unrealized holding gains and losses for available-for-sale secunties to be reported as a component of other comprehensive income because: I Reporting unrealized holding gains and losses in income for available-for-sale socurities would create unnecessary volablity in a company's reported net income. II The securities are actively managed making the inclusion of gains and losses irrelevant