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 $50,000. December 31 The securities had a fair value of $47,000 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 $5,000 ) for $6,000 cash. Journal entry worksheet Purchased short-term investments in available-for-sale debt securities at a cost of $50,000. Note: Enter debits before credits. Journal entry worksheet The securities had a fair value of $47,000 at year-end. An adjusting entry for fair value of the available-for-sale securities' portfolio is required. Note: Enter debits before credits. Journal entry worksheet 1 Sold a portion of its available-for-sale securities (costing $5,000) for $6,000 cash. Note: Enter debits before credits