Question: Accounting for securities available for sale. Events related to Simmons Corporation's investments of temporarily excess cash appear below. The firm classifies these investments as securities

Accounting for securities available for sale. Events related to Simmons Corporation's investments of temporarily excess cash appear below. The firm classifies these investments as securities available for sale and does not elect the fair value option.

None of these three securities paid dividends. Prepare dated journal entries for the following events related to these investments, assuming that the accounting period is the calendar â€˜ear.
a. Acquisition of securities
b. Revaluation on December 31
c. Sale ofsecurities

Fair Value on December 31 2008 Acquisition Selling Date Date Sold 2/15/2010 $14,900 8/22/2010 Price Security s...... Acquired Cost 2009 6/13/2008 6/13/2008 6/13/2008 $12,000 $15,200 $13,500 $26,200 $29,000 $31,700 $28,500 $39,000 10/11/2008 $43,000

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