O Required Information Problem 15-2A (Algo) Recording, adjusting, and reporting available-for-sale debt securities LO P3 The following information applies to the questions displayed below.) Mead Incorporated 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 January 20 Purchased Johnson & Johnson bonds for $25,000 February Purchased Sony notes for $59,490. June 12 furahased Mattel bonds for $45,000. December 31 Pair values for debt in the portfolio are Johnson & Johnson, $26,9001 Sony, $49,050; and Mattel, $55,950. Year 2 April 15 sold all of the Johnson & Johnson bonda for $20,000. July 5 Bold all of the Mattel bonde for $39,000 July 22 Purchased Sara Lee notes for $17,100. August 19 Purchased Kodak bonds toe $18,450. December 31 Pair values for debt in the portfolio are Kodak, $18.900; Bara Lee, $16, 5003 and Sony. $63,000. Year 3 February 27 Purchased Microsoft bonds for $161,000 June 21 Sold all of the Sony notas for $61,200. June 30 Purchased Black & Decker bonds for $54,900. August 3 fold all of the Sara Lee notes for $13,800. November 1 sold all of the Kodak bondo for $23,400. December 31 Fair values for debt in the portfolio are Black & Decker, $57,300; and Microsoft, 6159,500. Problem 15-2A (Alqo) Part 1 View transaction list Journal entry worksheet Purchased bonds of Johnson & Johnson for $25,000. Note: Enter debits before credits Debit Credit Date Jan 20 General Journal Debt investments - AFS Cash 25,000 25,000 Record entry Clear entry View general journal