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Required information 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 deb investments in avallable-for-sale securities. Year 1 January 20 Purchased Johneon 6 Johnmon bonds for $24,500. Yebruary 9 Purchased Sony notes for $59,040. -June 12 Purchased Mattel bonds for $44,500. December 31 Pair values for debt in the portfolio are Johneon \& Johnson, $26,300; sony, $49,750; and Matte1, $54,550. Year 2 April 15 Sold all of the Johnson 6 Johnson bondn 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 Pair values for debt in the portfolio are Kodak, $18,725; Sara Lee, $16,000; and Sony, $62,000. Year 3 Pebruary 27 Purchased Microsoft bonds for $161,200. June 21 Sold all of the Sony notes for $60,800. June 30 Purchased Black o 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 fpr debt in the portfolio are Black \& Decker, $57,0007 and Microsoft, $159,400. 2. Complete the following table that summarizes the (a) total cost, (b) total fair value adjustment, and (c) total fair value of the p of long-term avallable-for-sale debt securities at each year-end. (Loss amounts should be indicated with a minus sign.)