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At December 31, 2022, the held-for-collection and selling debt portfolio for Pronghorn SA is as follows. Unrealized Gain (Loss) Investment Amortized Cost Fair Value 18,375 15,750 12,625 ) B 13,125 14,700 1,575 24,150 26,775 2,625 Total 55,650 57,225 1,575 Previous fair value adjustment balance-Dr. 420 Fair value adjustment-Dr. 1,155 On January 20, 2023, Pronghorn SA sold security A for 15,855. The sale proceeds are net of brokerage fees. (a) Prepare the adjusting entry at December 31, 2022, to report the portfolio at fair value. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit PRONGHORN SA Statement of Financial Position December 31, 2022 Current Assets: Debt Investments 57225 Equity: Share Capital - Ordinary XXX,XXX Share Capital - Premium XXX,XXX Retained Earnings XXX,XXX XXX,XXX Add : Accumulated Other Comprehensive Income 1575 Total Equity xxx.xxx (c) Prepare the journal entry for the 2023 sale of security A. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 20, 2023

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