Question: EH . 7 ( LO 3 ) , AP Writing At December 3 1 , 2 0 2 2 , available - for - sale

EH.7(LO 3), AP Writing At December 31,2022, available-for-sale debt securities for Gwynn, Inc. are
as follows. The securities are considered to be a long-term investment.
Instructions
a. Prepare the adjusting entry at December 31,2022, to report the securities at fair value.
b. Show the statement presentation at December 31,2022, after adjustment to fair value.
c. Pam Jenks, a member of the board of directors, does not understand the reporting of the unreal-
ized gains or losses on trading debt securities and available-for-sale debt securities. Write a letter to
Ms. Jenks explaining the reporting and the purposes it serves.
EH.7(LO 3), AP Writing At December 31,2022, available-for-sale debt securities for

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