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 $51,300 cash on November 25. At December 31, these securities had a fair value of $49,600. 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 11% of these securities ($5,643 cost) for $6,800 cash. View transaction list Journal entry worksheet