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 $51,700 cash on November 25. At December 31, these securities had a fair value of $50,400. 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 11% of these securities ($5,687 cost) for $6,700 cash. View transaction list Journal entry worksheet Record the year-end adjustment to fair value, if any. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal Journal entry worksheet Record sale of 11% of available-for-sale securities. Note: Enter debits before credits. Date General Journal Debit Credit April 06 Record entry Clear entry View general journal