Question: help please. Problem 15-2A (Algo) Recording, adjusting, and reporting available-for-sale debt securities LO P3 [The following information applies to the questions displayed below.] Mead Incorporated
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Problem 15-2A (Algo) Recording, adjusting, and reporting available-for-sale debt securities LO P3 [The following information applies to the questions displayed below.] Mead Incorporated began operations in Year 1 . Following is a series of transactions and events involving its long-term debt investments in available-for-sale securities. Year 1 January 20 Purchased Johnson 6 Johnson bonds for $29,000. February 9 Purchased Sony notes for $63,090. June 12 Purchased Mattel bonds for $49,000. December 31 Fair values for debt in the portfolio are Johnson 6 Johnson, $31,700; Sony, $54,450; and Mattel, Year 2 April 15 Sold al1 of the Johnson 6 Johnson bonds for $32,000. July 5 Sold all of the Mattel bonds for $41,800. July 22 purchased Sara tee notes for $20,300. hugust 19 Purchased Kodak bonds for $21,250. December 31 Fair values for debt in the portfolio are kodak, $22,300, $ara Lee, $20,500 f and 50ny, $64,000. Year 3 February 27 Purchased Micronoft bonds for $160,400. June 21 Sold all of the Sony notes for $64,400. June 30 Purchased Black 6 Decker bonds for $58,900. August 3 sold a11 of the sara tee noten for $17,400. November 1 sold al1 of the Kodak bonds for $26,000. December 31 Fair valuen for debt in the portfolio are Black o Decker, $59,700, and Micronoft, $160,300. Problem 15-2A (Algo) Part 3 3. Complete the following table that summarizes (a) the realized gains and losses and (b) the unrealized gains or losses for the portfolio of long-term available-for-sale debt securities at each year-end. (Losses should be indicated by a minus sign.)
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