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On March 10, 2015, Dearden, Inc., purchased 11,500 shares of Jaffa stock for $60 per share. Management recorded it in the available-for-sale securities portfolio. The
On March 10, 2015, Dearden, Inc., purchased 11,500 shares of Jaffa stock for $60 per share. Management recorded it in the available-for-sale securities portfolio. The following information pertains to the price per share of Jaffa stock: Price S58 61 57 12/31/2015 12/31/2016 12/31/2017 Dearden sold all of the Jaffa stock on September 12, 2018, at a price of $55 per share. Prepare any journal entries that are required by the facts presented in this case. (f no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet Credit No Date General Journal Debit 1March 10, 2015 Investments in AFS securities 690.000 Cash 690,000 2 Dec. 31, 2015Net unrealized gains (losses) 23,DDD Investments in AFS securities 23,000 3Dec. 31.2016 Investments in AFS securities 34,500 Net unrea zed gains (losses) 34,500 4 Dec 31, 2017 Net unrealized gains (losses) 46,000 Investments in AFS securities 46,000 5 Sep. 12, 2018 Cash 632,5DD Loss on sale of securities Net unrealized gains (losses) Investments in AFS securities 57,500
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