Windsor Company in its first year of operations provides the following information related to one of its available-for-sale debt securities at December 31, 2020.

Amortized cost		$51,000
Fair value		42,000
Expected credit losses		12,550

(a)

What is the amount of the credit loss that Windsor should report on this available-for-sale security at December 31, 2020?

Amount of the credit loss

(b) Prepare the journal entry to record the credit loss, if any (and any other adjustment needed), at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Note: List of Accounts

• Accumulated Other Comprehensive Loss
• Allowance for Doubtful Accounts
• Allowance to Reduce Inventory to Market
• Bad Debt Expense
• Bonds Payable
• Cash
• Call Option
• Common Stock
• Cost of Goods Sold
• Debt Investments
• Dividend Revenue
• Dividend Receivable
• Equity Investments
• Fair Value Adjustment
• Futures Contract
• Gain on Sale of Investments
• Gain on Settlement of Call Option
• Gain on Settlement of Put Option
• Interest Expense
• Interest Receivable
• Interest Revenue
• Inventory
• Investment Income
• Loss on Impairment
• Loss on Sale of Investments
• Loss on Settlement of Call Option
• Loss on Settlement of Put Option
• No Entry
• Notes Payable
• Paid-in Capital in Excess of Par - Common Stock
• Put Option
• Recovery of Loss from Impairment
• Retained Earnings
• Revenue from Investment
• Sales Revenue
• Swap Contract
• Unrealized Holding Gain or Loss - Equity
• Unrealized Holding Gain or Loss - Income