Question: Please help me find the correct numbers for each journal entry. The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021.

Please help me find the correct numbers for each journal entry.

Please help me find the correct numbers for each journal entry. The

following selected transactions relate to investment activities of Ornamental Insulation Corporation during

2021. The company buys debt securities, not intending to profit from short-term

differences in price and not necessarily to hold debt securities to maturity,

but to have them available for sale in years when circumstances warrant.

Ornamental's fiscal year ends on December 31. No investments were held by

The following selected transactions relate to investment activities of Ornamental Insulation Corporation during 2021. The company buys debt securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale in years when circumstances warrant. Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31, 2020. Mar. 31 Acquired 8% Distribution Transformers Corporation bonds costing $510,000 at face value. Sep. 1 Acquired $1,065,000 of American Instruments' 10% bonds at face value. Sep. 30 Received semiannual interest payment on the Distribution Transformers bonds. Oct. 2 Sold the Distribution Transformers bonds for $546,000. Nov. 1 Purchased $1,510,000 of M&D Corporation 6% bonds at face value. Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are: American Instruments bonds M&D Corporation bonds $1,004,000 $1,581,000 (Hint: Interest must be accrued.) Journal entry worksheet 6 7 8 9 10 > Record the entry to adjust to fair value on the date of sale of the Distribution Transformers bonds. Note: Enter debits before credits. Debit Credit Date General Journal October 02, 2021 Fair value adjustment Gain on investments (unrealized, OCI) Record entry Clear entry View general journal K Journal entry worksheet o @ 5 7 8 9 10 > Record the entry for the reclassification adjustment on the date of sale. Note: Enter debits before credits. Date General Journal Debit Credit Fair value adjustment Record entry Clear entry View general journal Journal entry worksheet Record the interest accrual for American Instruments bonds. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Interest receivable Interest revenue Record entry Clear entry View general journal Journal entry worksheet Record the interest accrual for M&D bonds. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Interest receivable Interest revenue Record entry Clear entry View general journal Journal entry worksheet Record the entry to adjust fair value of the investments at year-end. Note: Enter debits before credits. Debit Credit Date December 31, 2021 General Journal Fair value adjustment Gain on investments (unrealized, OCI) Record entry Clear entry View general journal

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