Required information Problem 15-3A (Algo) Debt investments in available-for-sale securities; unrealized and realized gains and losses LO P3 [The following information applies to the questions displayed below.] Stoll Company's long-term available-for-sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Company A bonds Company B notes Company C bonds Cost $ 534,300 159,490 661,900 Fair Value $ 490,000 148,000 644,280 Stoll enters into the following transactions involving its available-for-sale debt securities this year. January 29 Sold one-half of the Company B notes for $78,500. July 6 Purchased Company X bonds for $120,600. November 13 Purchased Company Z notes for $267,000. December 9 Sold all of the Company A bonds for $519,000. Fair values at December 31 are B, $83,900; C, $608,900; X, $100,000; and Z, $275,000. Problem 15-3A (Algo) Part 1 and 2 Required: 1. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. 2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities. chpad Complete this question by entering your answers in the tabs below. < Prev of 10 Next