PLEASE FOLLOW THE SAME FORMAT

! Required information Problem 15-3A (Static) Debt investments in available-for-sale securities; unrealized and realized gains and losses LO P3 [The following information applies to the questions displayed below.) Stoll Company's long-term available-for-sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Company A bonds Company B notes Company C bonds Cost $ 535,300 159,380 662,750 Fair Value $ 490,000 154,000 713,630 Stoll enters into the following transactions involving its available-for-sale debt securities this year. January 29 Sold one-half of the Company B notes for $79,200. July 6 Purchased Company X bonds for $126,600. November 13 Purchased Company Z notes for $267,900. December 9 Sold all of the Company A bonds for $515,000. Fair values at December 31 are B, $81,000; C, $665,000; X, $118,000; and Z, $278,000. Problem 15-3A (Static) Part 1 and 2 Required: 1. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. 2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. View transaction list Journal entry worksheet Sold one-half of the notes Company B for $79,200. Note: Enter debits before credits. Date General Journal Debit Credit January 29 Required 1 Required 2 Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities. Fair Value Adjustment Computation - Available-for-Sale Securities December 31 AFS Securities Cost Unrealized Fair Value Amount Total $ 0 $ 0 December 31 Balance in the Fair Value Adjustment account