Required information [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 Cost Fair Value Company A bonds $ 534,300 490,000 Company B notes Company C bonds 159,490 148,000 661,900 644,280 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 2, $275,000. 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 Required 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 Cost Unrealized Fair Value Amount Total December 31 Balance in the Fair Value Adjustment account View transaction list Journal entry worksheet 1 2 3 4 5 Sold one-half of the notes Company B for $78,500. Note: Enter debits before credits. Date General Journal Debit Credit January 29 Notes payable Record entry Clear entry View general journal Required 1 Required 2 > > Journal entry worksheet 1 23 4 Record the year-end adjusting entry for the securities portfolio as of December 31. General Journal Debit Credit Note: Enter debits before credits. Date December 31 Record entry Clear entry View general journal 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. View transaction list Journal entry worksheet 2 3 4 5 Sold all of the Company A bonds for $519,000. General Journal Debit Credit Note: Enter debits before credits. Date December 09 Record entry Clear entry View general journal Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjust for the long-term investments in available-for-sale securities. View transaction list Journal entry worksheet 1 2 3 4 5 Purchased Company Z notes for $267,000. General Journal Debit Credit Note: Enter debits before credits. Date: November 13 Record entry Clear entry View general journal 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. View transaction list Journal entry worksheet 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. 3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securities does Stoll report on its income statement for this year