QS 15-7 (Algo) Accounting for available-for-sale debt securities LO P3 Journ Company purchased short-term investments in avallable-for-sale debt securities at a cost of $52,300 cash on November 25 . At December 31 , these securities had a fair value of $51,300. This is the first and only time the company has purchased such securities. 1. 2. \& 3. Prepare the November 25 entry to record the purchase of debt securities, the December 31 year-end adjusting entry for the securities' portfolio, and the April 6 entry when Journ sells 9% of these securities ( $4,707 cost) for $6,500 cash. Journal entry worksheet Record purchase of avaliable-for-sale securities. Note: Enter debits before credits QS 15-7 (Algo) Accounting for available-for-sale debt securities LO P3 Journ Company purchased short-term investments in avallable-for-sale debt securities at a cost of $52,300 cash on November 25 . At December 31, these securities had a fair value of $51,300. This is the first and only time the company has purchased such securities. 1. 2. \& 3. Prepare the November 25 entry to record the purchase of debt securities, the December 31 year-end adjusting entry for the securities' portfolio, and the April 6 entry when Journ sells 9% of these securities ( $4,707 cost) for $6,500 cash. Journal entry worksheet 3 Record the year-end adjustment to fair value, if any. Noce: Enter debits before creditn. QS 15-7 (Algo) Accounting for available-for-sale debt securities LO P3 Journ Company purchased short-term investments in available-for-sale debt securities at a cost of $52,300 cash on November 25 . At December 31, these securities had a fair value of $51,300. This is the first and only time the company has purchased such securities. 1. 2. 3. Prepare the November 25 entry to record the purchase of debt securities, the December 31 year-end adjusting entry for the securities' portfolio, and the April 6 entry when Journ sells 9% of these securities ( $4,707 cost) for $6,500 cash. Journal entry worksheet Record saie of 9% of availabie-for-sale securities. Note: Enterdebits befare crnaits