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Intermediate Accounting

At December 31, 2017, the available-for-sale debt portfolio for Blossom, Inc. is as follows.

??

Security

??

Cost

??

Fair Value

??

Unrealized

Gain (Loss)

A?? $28,000?? $24,000?? $(4,000?? )

B?? 20,000?? 22,400?? 2,400??

C?? 36,800?? 40,800?? 4,000??

Total?? $84,800?? $87,200?? 2,400??

Previous fair value adjustment balance???Dr.?? 640??

Fair value adjustment???Dr.?? $1,760??

??

On January 20, 2018, Blossom, Inc. sold security A for $24,160. The sale proceeds are net of brokerage fees.

JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?

Customer: Show the balance sheet presentation of the investment-related accounts at December 31, 2017

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University of Nairobi