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Question 11 of 14 3.33/10 At December 31, 2020, the available for sale debt portfolio for Steffi Graf, Inc. is as follows. Security Cost Fair Value $15,000 Unrealized Gain (Loss) $12.500) 1,500 $17.500 12.500 14.000 C 23.000 25,500 2.500 Total $53,000 $54.500 1.500 Previous fair value adjustment balance- Dr. 400 Fair value adjustment-Dr. $1.100 On January 20, 2021, Steffi Graf, Inc. sold security A for $15,100 The sale proceeds are net of brokerage fees. (a) Your answer is correct Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value. (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 o for the amounts) Account Titles and Explanation Debit Credit 1100 1100 (b) Show the balance sheet presentation of the investment-related accounts at December 31, 2020. (Do not leave any answer field blank. Enter 0 for amounts.) STEFFI GRAF, INC Balance Sheet