On January 12th, 2018 Jefferson Corporation purchased bonds of Rose Corporation for $73 million and classified the securities as available-for-sale. On December 31st, 2018 these bonds were valued at $67 million. Eight months later, on October 3rd, 2019 Jefferson Corporation sold these bonds for $87 million. 11. As part of the multi-step approach to record the 2019 transaction, Jefferson Corporation should first update the fair value adjustment on the date of sale by recording: A) An unrealized holding gain of $26 million in 2019. B) A gain of $20 million in 2019. C) A gain of $14 million in 2019. D) An unrealized holding gain of $20 million in 2019. 12. As part of the multi-step approach to record the 2019 transaction, Jefferson Corporation should next take the second step of: A) Reversing total accumulated unrealized holding gains of $20 million. B) Reversing total accumulated unrealized holding gains of $26 million. C) Reversing total accumulated unrealized holding gains of $14 million. D) Reversing total accumulated unrealized holding gains of $6 million. 13. As part of the multi-step approach to record 2019 transaction, Jefferson Corporation should finally take the third step of recording a sales transaction with a gain of: A) $6 million B) $14 million C) $20 million D) $26 million