Question: I need help it keeps showing that something missing but i don't know what is? Mead Incorporated began operations in Year 1. Following is a

I need help it keeps showing that something missing but i don't know what is?

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 & Johnson bonds for $24,500.
February 9 Purchased Sony notes for $59,040.
June 12 Purchased Mattel bonds for $44,500.
December 31 Fair values for debt in the portfolio are Johnson & Johnson, $26,300; Sony, $49,750 and Mattel, $54,550.

Year 2

April 15 Sold all of the Johnson & Johnson bonds for $27,500.
July 5 Sold all of the Mattel bonds for $38,650.
July 22 Purchased Sara Lee notes for $16,700.
August 19 Purchased Kodak bonds for $18,100.
December 31 Fair values for debt in the portfolio are Kodak, $18,725 Sara Lee, $16,000 and Sony, $62,000.

Year 3

February 27 Purchased Microsoft bonds for $161,200.
June 21 Sold all of the Sony notes for $60,800.
June 30 Purchased Black & Decker bonds for $54,400.
August 3 Sold all of the Sara Lee notes for $13,350.
November 1 Sold all of the Kodak bonds for $23,075.
December 31

Fair values for debt in the portfolio are Black & Decker, $57,000 and Microsoft, $159,400.

I need help it keeps showing that something missing but i don'tknow what is? Mead Incorporated began operations in Year 1. Following isa series of transactions and events involving its long-term debt investments in

Year 1 Year 2 Year 3 Prepare journal entries to record these transactions and the year-end fair value adjustments to the portfolio of long-term available-for- sale debt securities. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 January 20 Debt investments - AFS 24,500 Cash 24,500 February 09 Debt investments - AFS 59,040 Cash 59,040 3 June 12 Debt investments - AFS 44,500 Cash 44,500 4 December 31 2,560 Fair value adjustment - AFS Unrealized gain - Equity 2,560 Year 1 Year 2 Year 3 Prepare journal entries to record these transactions and the year-end fair value adjustments to the portfolio of long-term available-for- sale debt securities. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 April 15 Cash 27,500 Gain on sale of debt investments 3,000 24,500 Debt investments - AFS 2 July 05 Cash 38,650 5,850 Loss on sale of debt investments Debt investments - AFS 44,500 3 July 22 Debt investments - AFS 16,700 Cash 16,700 4 August 19 Debt investments - AFS 18,100 Cash 18,100 5 December 31 325 Fair value adjustment - AFS Unrealized gain - Equity 325 Year 1 Year 2 Year 3 Prepare journal entries to record these transactions and the year-end fair value adjustments to the portfolio of long-term available-for- sale debt securities. View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 February 27 Debt investments - AFS 161,200 Cash 161,200 2 June 21 Cash 60,800 Gain on sale of debt investments 1,760 59,040 Debt investments - AFS 3 June 30 Debt investments - AFS 54,400 Cash 54,400 4 August 03 Cash 13,350 3,350 Loss on sale of debt investments 16,700 5 November 01 Cash 23,075 Gain on sale of debt investments 4,975 18,100 Debt investments - AFS December 31 2,085 Unrealized gain - Equity Fair value adjustment - AFS 2,085

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