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need help filling out the red boxes. Ayayai Company in its first year of operations provides the following information related to one of its available-for-sale
need help filling out the red boxes.
Ayayai Company in its first year of operations provides the following information related to one of its available-for-sale debt securities at December 31, 2020. $50,900 Amortized cost Fair value Expected credit losses 41,800 12,500 Your answer is correct. What is the amount of the credit loss that Ayayai should report on this available-for-sale security at December 31, 2020? Amount of the credit loss 9100 Your answer is partially correct. Prepare the journal entry to record the credit loss, if any (and any other adjustment needed), at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Date December 31, 2020 Unrealized Holding Gain or Loss -Income av eTextbook and Media List of Accounts X Your answer is incorrect. Assume that the fair value of the available-for-sale security is $54,800 at December 31, 2020, instead of $41,800. What is the amount of the credit loss that Ayayai should report at December 31, 2020? Amount of the credit loss -3900 e Textbook and Media List of Accounts Your answer is partially correct. Assume the same information as for part (c). Prepare the journal entry to record the credit loss, if necessary (and any other adjustment needed), at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit December 31, 2020 No Entry No Entry eTextbook and Media List of Accounts Step by Step Solution
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