PLEASE HELP and EXPLAIN

Journal Description Date Debit Credit Jan. 17 Investments-Red Rock Co. Stock 38,500 Cash 38,500 Feb. 5 Investments-Sunset Village Bonds 35,000 Interest Receivable 300 Cash 35,300 Feb. 23 Investments-Mays and Co. Stock 26,250 26,250 Cash 350 Mar. 31 Cash Interest Receivable 300 Interest Revenue 50 Apr. 6 Investment in Minions Corp. Stock 175,000 Cash 175,000 Apr. 30 Cash 750 Dividend Revenue 750 Jul. 1 Cash 19,080 Loss on Sale of Investment 190 Interest Revenue 20 Investments-Sunset Village Bonds 19,250 Aug. 14 Cash 41,300 Gain on Sale of Investments 1,800 39,500 Investments-Harding Construction Stock 3,500 Aug. 27 Cash Investment in Minions Corp. Stock 3,500 Sep. 22 Cash 29,750 Gain on Sale of Investments 3,500 Investments-Mays and Co. Stock 26,250 Sep. 30 Cash 140 Interest Revenue 140 Nov. 1 Investment in Minions Corp. Stock 21,000 Income of Minions Corp. 21,000 3,275 Dec. 31 Unrealized Loss on Available-For-Sale Investments 3,275 Valuation Allowance for Available-For-Sale Investments Dec. 31 Valuation Allowance for Trading Investments 2,150 Unrealized Gain on Trading Investments 2,150 Financial Statements and Valuation The accountant preparing the financial statements has asked you to provide the fair value as of the end of the year for the investments. Present the information as it would be shown on the financial statements. Last year, The Wellinqton Company reported costs of $68,000 in trading investments and $82,000 in available-for-sale investments. Refer to the journal entries shown on The Wellington Company panel. Assume that all investments sold during this year were trading investments and that purchases during the year were new investments. 1. Select the correct label for each line and fill in the amount. In classifying the investments, choose a categorization which seems most likely, given the pattern of transactions in the journal entries. Enter all amounts as positive numbers. If an amount box does not require an entry, leave it blank. Trading Securities Available-For-Sale Securities Journal Description Date Debit Credit Jan. 17 Investments-Red Rock Co. Stock 38,500 Cash 38,500 Feb. 5 Investments-Sunset Village Bonds 35,000 Interest Receivable 300 Cash 35,300 Feb. 23 Investments-Mays and Co. Stock 26,250 26,250 Cash 350 Mar. 31 Cash Interest Receivable 300 Interest Revenue 50 Apr. 6 Investment in Minions Corp. Stock 175,000 Cash 175,000 Apr. 30 Cash 750 Dividend Revenue 750 Jul. 1 Cash 19,080 Loss on Sale of Investment 190 Interest Revenue 20 Investments-Sunset Village Bonds 19,250 Aug. 14 Cash 41,300 Gain on Sale of Investments 1,800 39,500 Investments-Harding Construction Stock 3,500 Aug. 27 Cash Investment in Minions Corp. Stock 3,500 Sep. 22 Cash 29,750 Gain on Sale of Investments 3,500 Investments-Mays and Co. Stock 26,250 Sep. 30 Cash 140 Interest Revenue 140 Nov. 1 Investment in Minions Corp. Stock 21,000 Income of Minions Corp. 21,000 3,275 Dec. 31 Unrealized Loss on Available-For-Sale Investments 3,275 Valuation Allowance for Available-For-Sale Investments Dec. 31 Valuation Allowance for Trading Investments 2,150 Unrealized Gain on Trading Investments 2,150 Financial Statements and Valuation The accountant preparing the financial statements has asked you to provide the fair value as of the end of the year for the investments. Present the information as it would be shown on the financial statements. Last year, The Wellinqton Company reported costs of $68,000 in trading investments and $82,000 in available-for-sale investments. Refer to the journal entries shown on The Wellington Company panel. Assume that all investments sold during this year were trading investments and that purchases during the year were new investments. 1. Select the correct label for each line and fill in the amount. In classifying the investments, choose a categorization which seems most likely, given the pattern of transactions in the journal entries. Enter all amounts as positive numbers. If an amount box does not require an entry, leave it blank. Trading Securities Available-For-Sale Securities