multiple step question

On December 31, Lujack Co held the following short-term available-for-sale securities Lujack had no short-term investments prior to the current period Prepare the December 31 year end adjusting entry to record the fair value adjustment for these debt securities Complete this question by entering your answers in the tabs below. Fair Value Adjustment General Journal Computation of fair value adjustment Computation of Fal Value Adjustment Available for Sale Securitas Cont Fall Value Unrealized Amount Nintendo Co notes Atlantic bonds Kellogg Co notes McDonald's Corp, bonds Total $ 82.800 $ 90,252 33.120 30.802 59 616 56.039 111,780 106.191 $ 287.316 $ 283 284 Chec! Mead Inc began operations in Year 1. following is a series of transactions and events involving its long-term debt investments in available for sale securities Year 1 Jan. 20 Purchased Johnson & Johnson bonds for $25,500 Feb. 9 Purchased notes of Sony for $59,940. June 12 Purchased bonds of Mattel for $45,500. Dec. 31 Fair values for debt in the portfolio are Johnson & Johnson, $29,500; Sony, $49,350; and Mattel, $54,750 Year 2 Apr. 15 Sold all of the bonds of Johnson & Johnson for $28,500. July 5 Sold all of the bonds of Mattel for $39,350. July 22 Purchased notes of Sara Lee for $15,500. Aug. 19 Purchased bonds of Kodak for $18,800. Dec. 31. Fair values for debt in the portfolio are Kodak, 519,075; Sara Lee, 517,000; and Sony, 562,00 Year 3 Feb. 27 Purche bonds of Microsoft for $159,800. June 21 Sold all of the notes of Sony for $61,600 June 30 Purchased bonds of black & Decker for $55,400 3 Sold all of the notes of Sara Lee for $14,250. Nov. 1 Sold all of the bonds of Kodak for $23,725 Dec 31 Fair values for debt in the portfolio are Black & Decker, 557,600; and Microsoft, $159,680. Aug Required: 1. Prepare journal entries to record these transactions and the year-end fair value adjustments to the portfolio of long-term available for-sale debt securities Required information Year 1 Year 2 Year 3 Prepare Journal entries to record these transactions and the year and fair value adjustments to the portfolio of long-term available for sale debt securities View transaction list Journal entry worksheet