Mead incorporated began operations in Year 1 . Following is a series of transactions and events involving its long-term debt investments in avallable-for-sale secunties Year 1 January 20 purchased Johnson 8 Johnson bonds for $24,560. rebruary 9 purchased sony notes for $59, e40. June 12 Purchased Mattel bonds for 544 , 500. December 31 fair values for debt in the portfollo are Johnson \& Johnison, $26,300; Sony, 549,750 ; and Mattel, 554,550 . Year 2 April 15 sold all of the Johnsan \& Johnson bonds for $27,509. July 5 sold a11 of the Hattel bonds for 538,650 . July 22 purchased Sara lee notes for $16,700. August 19 Purchased Kodak bonds for $18,100. Decenber 31 fair values for debt in the portfotio are Kodak, \$18,725; Sara Lee, \$16,000; and 50ny, \$62, e09. Year 3 February 27 Purchased Mierosoft bonds for $161,200. June 21 sold all of the sony notes for 360,800 . June 30 Purchased Black \& Decker bonds for 554,409 . August 3 sold all of the sara Lee notes for $13,350. November 1 sold all of the Kodak bonds for $23,675. December 31 Fair values for debt in the portfolio are Black \& Decker, $57,0001 and Microsoft, $159,400. Required: 1. Prepare journal entries to record these transactions and the year-end fair value adjustments to the portfolio of long-term availablefor-sale debt securities. Complete this question by entering your answers in the tabs below. June 32 Purchased Black- 4 Decket bond for 554 , aov. Mugust 1 Sold all af the sara lee abted for 513, 153 . noveeber-1 sold all of the kodak boinds for 523 . fequired: 1. Prepare journal ertries to ferord these transacbons and the ye-ar-thd fair wabue adjustments to the portfolio of Iont-term availabiefor-baile debt securities. Complete this question by entering your answers in the tobs below. sale debt sicuaries. June 3 P Purchased nlack \& Decker bonds for 554,409 August. 3 sold all af the sara Lee notes for $13,350 November 1 sold a11 of the Kodak bonds for $23,075. December 31 Fair values for debt in the portfolio are B1ack \& Decker, $57,000; and Microsoft, $159,400. Required: 1. Prepare journal entries to record these transactions and the year-end fair value adjustments to the portfolio of long-term avails for-sale debt securities. Complete this question by entering your answers in the tabs below. Prepare joumal entries to record these transactions and the year end fair value adjustments to the portfolio of long-term available-fo sale debt securities. Journal entry worksheet June 30 Purchased Elock 8 Decken bonds for 554,400 . August 3 sold all of the sara lee notes for $13,350. Noveaber 1 sold all of the Kodak bands for $23, 675 . December 91 Fair values for debt in the portfolfo are black 8 Decker, \$57, e00; and Microsoft; $159, 400. Required: 1. Prepare journal entries to record these transactions and the year-end fair value adjustments to the portfolio of long-term availablefor-sale debt securities. Complete this question by entering your answers in the tabs below. Prepare journal entries to record these transactions and the year-end fair value adjustments to the portfolio of long-term available-forsale debt securities. Journal entry worksheet Purchased Black 8 Decker bonds for $54,400. Note: Ehter debuts before creditw. June 3e Purchased Elack s Decker bondi for 554,400 . Augist 3 sold all of the sara tee nates fon 113,350. Decrenber 31 fain values for debt in the portfollo arr blackis becker, 157, 000s, and HIcrosoft, 3150,430. Woveiher 1 : 5old all of the kodsk bonds for 523, o75. 1. Prequired: 1. Pournal entries to record these transactions and the year-end fair vatue adjustrrents to the portfolio of long-tetm avalable- Required: for-sole debt secumities: Complete this question by entering your answers in the tabs below. Prepare journal entries to record thege tranmactions and the yeariend fair value adjustments to the portfolio of long-term avaitable-for sale debt securities: Journal entry worksheet Potif: Frter debits nerurt crown: June 30 Purchased black \& Decker bonds for $54,400. August 3 sold all of the sara lee notes for $13,350 Novenber 1 sold a21 of the Kodak bonds for $23,075. December 31 Fair values for debt in the portfolio are Black \& Decker. $57,000; and Microsoft, $159,460. 1. Prepare journal entries to record these transactions and the year-end fair value adjustments to the portfolio of long-term avaliable: Required: for-sale debt securities. Complete this question by entering your answers in the tabs below. prepare journal entries to record thege transactions and the year-end fair value adjustments to the portfolio of long-term-available-forstale debt securities. Journal entry worksheet 3unt 30 : Purchased block \& Decher bonids for 534 ; de0. August 3 seld all of the sara lee notes for 513,35 Novenber 1 sold all of the kodok tand for 123 id 127 . Deceober it falk values for debt in the portfollo are alack A becker, 157,009 ; and Hikerosoft, 5159 , 400. Required: 1. Prepare journat entries to record these transactions and the year-end fair value adjustments to the poltolio of Iong term availableor-sale debt securibes: Complete this question by entering your answers in the tabs below. Prepare joumal entries to record these transactions and the year end fair value adjustments to the portfolio of long-term available-forsale debt securities: Journal entry worksheet Falir values for debt in the portfolio are: Black a Deckec, 557,000: and Microsoft, $159,400. Noter Griter debits belore crediti
