QS 15-7 Available-for-sale securities LO P3 Journ Co. purchased short-term investments in available-for-sale securities at a cost of $64,000 on November 25, 2017. At December 31, 2017, these securities had a fair value of $59,600. This is the first and only time the company has purchased such securities. 1. & 3. Prepare the December 31, 2017, year-end adjusting entry for the securities' portfolio and the April 6, 2018, entry when Journ sells one-half of these securities for $33,280. X Answer is complete but not entirely correct. No Date General Journal Debit Credit 1 Dec 31, 2016 5,000 Unrealized loss-Equity Fair value adjustment-Available-for-sale (ST) 5,000 2 Apr 06, 2018 Cash 33,280 Short-term investmentsAFS 32,000 1,280 Gain on sale of short-term investments