QS C-7 Accounting for available for sale debt securities LO P3 Journ Co. purchased short-term investments in available for sale debt securities at a cost of $51800 cash on November 25. At December 31, these securities had a fair value of $50.600. 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 8% of these securities (54.144 cost) for $5.500 cash. View transaction list Journal entry worksheet 2 3 Record purchase of available for sale securities Note: Enter debits before credits General Journal Debit Credit Date Nov 25