Problem H-2 In January 2019, the management of Ivanhoe Company concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, the following transactions occurred Feb. 1 Purchased 1,240 shares of LAF common stock for $54,560 Mar. 1 Purchased 460 shares of NCL common stock for $18,400. Apr. 1 Purchased 65 $1,000, 896 TRC bonds for $65,000. Interest is payable semiannually on April 1 and October 1. JulyReceived a cash dividend of $0.80 per share on the LAF common stock. Aug. 1 Sold 202 shares of LAF common stock at $43 per share. Sept. 1 Received $2 per share cash dividend on the NCL common stock. Oct. 1 Received the semiannual interest on the TRC bonds. Oct. 1 Sold the TRC bonds for $72,215 At December 31, the fair values of the LAF and NCL common stocks were $40 and $33 per share, respectively. These stock investments by Ivanhoe Company provide less than a 20% ownership interest. Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2019, to report the investments at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Unrealized Loss on Available-for-Sale Securities Fair Value Adjustment-Trading Your answer is partially correct. Try again. Show the balance sheet presentation of investment securities at December 31, 2019. Ivanhoe Company (Partial) Balance Sheet December 31, 2019 Current Assets 72960 Fair Value Adjustment-Trading