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On January 1 , 2 0 2 5 , Sandhill Inc. had the following balance sheet. table [ [ table [ [ Sandhill
On January Sandhill Inc. had the following balance sheet.
tabletableSandhill Inc.Balance SheetAs of January AssetsEquityCash$Common stock,$Debt investments availableforsaleAccumulated other comprehensive income,Total$Total,$
The accumulated other comprehensive income related to unrealized holding gains on availableforsale debt securities The fair value of Sandhill Inc.s availableforsale debt securities at December was $; its cost was $ No securities were purchased during the year. Sandhill Inc.s income statement for was as follows. Ignore income taxes.
tabletableSandhill Inc.Income StatementAs of January Dividend revenue,$Gain on sale of investments,Net income,$
Prepare the journal entry to record the sale of the availableforsale debt securities in List all debit entries before credit entries. 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
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