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