Prepare entries for the following transactions involving available$-$for$-$sale securities$.$

December $11$ Purchased short$-$term investments in available$-$for$-$sale debt securities at a cost of $$51,600.$

December $31$ The securities had a fair value of $$50,200$ at year$-$end. An adjusting entry for fair value of the available$-$for$-$sale securities$"$ portfolio is required.

February $10$ Sold a portion of its available$-$for$-$sale securities $($costing $$5,160)$ for $$6,400$ cash.

Journal entry worksheet

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