(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 $ 534,500 $ 491,000 Company B notes 159,060 155,000 Company C bonds 662,700 646,190 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 $120,400. November 13 Purchased Company Z notes for $267,780. December 9 Sold all of the Company A bonds for $524,600. Fair values at December 31 are B, $84,300; C, $601,500; X, $112,000; and Z. $270,000. Problem 15-3A (Algo) Part 1 and 2 Required: 1. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. 2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities. - No Date Credit 1 January 29 General Journal Cash Loss on sale of debt investments Debt investments - AFS Debit 78,500 2,030 X 79,530 2 July 06 120,400 N Debt investments - AFS Cash 120,400 3 November 13 267,700 Debt investments - AFS Cash >$ O 267,700 4 December 09 524,600 Cash Loss on sale of debt investments Debt investments - AFS 43,500 BO 534,500 5 December 31 64,070 Loss on sale of debt investments Debt investments - AFS 64,070 (Required 1 Required 2 > 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 Unrealized Cost Fair Value Amount Total $ 0 $ December 31 Balance in the Fair Value Adjustment account