$(7$HV$)$

QS C$-7($Algo$)$ Accounting for available$-$for$-$sale debt securities LO P$3$

Journ Compary purchased short$-$term investments in avalableflorsale debt secunties at a cost of $$50,200$ cash on November $25.$ At December $34,$ these securities had a fair value of $$47,400.$ This is the frast and only time the company has purchased such securities$.$

$1\mathrm{.}2\mathrm{.}3\mathrm{.}3.$ Prepare the November $25$ entry to record the purchase of debt securliss$,$ the December $31$ year$-$end adjusting entry for the securties$\text{'}$ portolla, and the April $6$ entry when Joum sells R$\text{'}$s of these securties $($ $$4\mathrm{.}005$ cost$)$ for $56700$ cash.

Journal entry worksheet

$13$

Recerd purchase of avallabie$-$for$-$sale securties$.$

Nots: Inter debita before areble.

$\backslash$table$[[$Date$,$Geveral Jeveral,Dapt,Cradt$],[$Noventer $28,,,],[,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$