Problem 15-3A Debt investments in available-for-sale securities; unrealized and realized gains and losses [3 Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the following. Stoll enters into the following transactions involving its available-for-sale debt securities this year. Jan. 29 Sold one-half of the Company B notes for $79,200. July 6 Purchased Company X bonds for $126,600. Nov. 13 Purchased Company Z notes for $267,900. Dec. 9 Sold all of the Company A bonds for $515,000. Fair values at December 31 are B,$81,000;C,$665,000;X,$118,000; and Z,$278,000. Required 1. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. 2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities. 3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securities does Stoll report on its income statement for this year? Problem 15-3A Debt investments in available-for-sale securities; unrealized and realized gains and losses [3 Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the following. Stoll enters into the following transactions involving its available-for-sale debt securities this year. Jan. 29 Sold one-half of the Company B notes for $79,200. July 6 Purchased Company X bonds for $126,600. Nov. 13 Purchased Company Z notes for $267,900. Dec. 9 Sold all of the Company A bonds for $515,000. Fair values at December 31 are B,$81,000;C,$665,000;X,$118,000; and Z,$278,000. Required 1. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. 2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities. 3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securities does Stoll report on its income statement for this year