QS CAlgo Accounting for availableforsale debt securities LO P
Journ Company purchased shortterm investments in availableforsale debt securities at a cost of $ cash on November At December these securities had a fair value of $ This is the first and only time the company has purchased such securities
& Prepare the November entry to record the purchase of debt securities the December yearend adjusting entry for the securities portfolio, and the April entry when Journ sells of these securities $ cost for $ cash.
Journal entry worksheet
Record purchase of availableforsale securities
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditNovember A
