Required Information [The following Information applies to the questions displayed below.] Stoll Co.'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 $534,900 Cost Fair Value $492,000 159,290 145,000 662,500 641,740 Stoll enters into the following transactions Involving its available-for-sale debt securities this year. Jan. 29 Sold one-half of the Company B notes for $78,130. July 6 Purchased bonds of Company X for $125,100. Nov. 13 Purchased notes of Company Z for $268,000. Dec. 9 Sold all of the bonds of Company A for $515,300. The fair values at December 31 are B. $80,300; C, $606,800; X, $101,000; and Z, $271,000. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 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. No Date General Journal 1 Jan. 29 Cash Loss on sale of debt investments Debt investments - AFS 2 Jul 06 Debt investments-AFS Cash 3 Nov. 13 Debt investments - AFS Cash 4 Dec. 9 Cash 5 Dec. 31 Loss on sale of debt investments Debt investments-AFS Debt investments - HTM Unrealized gain - Equity Debit Credit 78,130 1,515 79,645 125,100 125,100 >> 268,000 268,000 < Required 1 Required 2 > 515,300 19,600 534,900 675x 675x Required Information [The following Information applies to the questions displayed below.] Stoll Co.'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 Fair Value $534,900 $492,000 159,290 145,000 662,500 641,740 Stoll enters into the following transactions Involving its available-for-sale debt securities this year. Jan. 29 Sold one-half of the Company B notes for $78,130. July 6 Purchased bonds of Company X for $125,100. Nov. 13 Purchased notes of Company Z for $268,000. Dec. 9 Sold all of the bonds of Company A for $515,300. The fair values at December 31 are B, $80,300; C, $606,800; X, $101,000; and Z, $271,000. 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities. Fair Value Adjustment Computation - Available-for-Sale Securities December 31 AFS Securities Company B notes Company C bonds Company X bonds Company Z notes Total -1 -1 -1 Unrealized Cost Fair Value Amount S 89,300 x S 682,500 125,100 79,625x 603,800x 101,000 271,000 268,000 S 1,147,900 S 1,052,425 < Required 1 Required 2 > *Red text indicates no response was expected in a call or a formula-based calculation is incorrect; no points deducted. *