Answer Happy

Sweet Corp. carries an account in its general ledger called
Investments, which contained debits for investment purchases, and
no credits, with the following descriptions.
Prepare entries necessary to classify the amounts into proper
accounts, assuming that the debt securities are classified as
available-for-sale. (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 0 for the amounts.)
Account Titles and Explanation
Debit
Credit
Unrealized Holding Gain or Loss - EquityInterest
ReceivableInterest RevenueCashUnrealized Holding Gain or Loss -
IncomeEquity InvestmentsNo EntryDebt InvestmentsInvestmentGain on
Sale of InvestmentsFair Value Adjustment
InvestmentFair Value AdjustmentGain on Sale of
InvestmentsUnrealized Holding Gain or Loss - EquityEquity
InvestmentsUnrealized Holding Gain or Loss - IncomeInterest
ReceivableCashInterest RevenueNo EntryDebt Investments
Debt
InvestmentsCashUnrealized Holding Gain or Loss - IncomeGain on Sale
of InvestmentsUnrealized Holding Gain or Loss - EquityInterest
ReceivableNo EntryInvestmentInterest RevenueFair Value
AdjustmentEquity Investments
No
EntryInterest RevenueUnrealized Holding Gain or Loss -
EquityInterest ReceivableEquity InvestmentsGain on Sale of
InvestmentsDebt InvestmentsFair Value AdjustmentUnrealized Holding
Gain or Loss - IncomeCashInvestment
List of Accounts
Prepare the entry to record the accrued interest and the
amortization of premium on December 31, 2020, using the
straight-line method. (Round answers to 0 decimal
places, e.g. 2,500. 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 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Gain on
Sale of InvestmentsUnrealized Holding Gain or Loss -
IncomeInvestmentInterest RevenueDebt InvestmentsEquity
InvestmentsCashUnrealized Holding Gain or Loss - EquityNo
EntryInterest ReceivableFair Value Adjustment
No
EntryUnrealized Holding Gain or Loss - IncomeUnrealized Holding
Gain or Loss - EquityInvestmentGain on Sale of
InvestmentsCashEquity InvestmentsDebt InvestmentsInterest
ReceivableFair Value AdjustmentInterest Revenue
CashInterest RevenueGain on Sale of InvestmentsInvestmentDebt
InvestmentsFair Value AdjustmentInterest ReceivableUnrealized
Holding Gain or Loss - EquityUnrealized Holding Gain or Loss -
IncomeEquity InvestmentsNo Entry
List of Accounts
The fair values of the investments on December 31, 2020,
were:
What entry, if any, would you recommend be
made? (Round answers to 0 decimal places, e.g.
2,500. 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 0 for the
amounts.)
Date
Account Titles and Explanation
Debit
Credit
No
EntryFair Value AdjustmentInterest ReceivableCashGain on Sale of
InvestmentsUnrealized Holding Gain or Loss - IncomeDebt
InvestmentsInvestmentInterest RevenueUnrealized Holding Gain or
Loss - EquityEquity Investments
CashNo
EntryInterest ReceivableInterest RevenueUnrealized Holding Gain or
Loss - EquityUnrealized Holding Gain or Loss - IncomeGain on Sale
of InvestmentsInvestmentDebt InvestmentsEquity InvestmentsFair
Value Adjustment
(Entry for debt investment)
Fair
Value AdjustmentNo EntryInvestmentInterest ReceivableUnrealized
Holding Gain or Loss - IncomeEquity InvestmentsGain on Sale of
InvestmentsCashInterest RevenueUnrealized Holding Gain or Loss -
EquityDebt Investments
No
EntryCashEquity InvestmentsUnrealized Holding Gain or Loss -
EquityInterest ReceivableInterest RevenueFair Value AdjustmentGain
on Sale of InvestmentsInvestmentUnrealized Holding Gain or Loss -
IncomeDebt Investments
(Entry for equity investment)
List of Accounts
The U.S. government bonds were sold on July 1, 2021, for
$114,000 plus accrued interest. Give the proper
entry. (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 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Unrealized Holding Gain or Loss -
EquityInvestmentCashUnrealized Holding Gain or Loss - IncomeFair
Value AdjustmentNo EntryInterest RevenueInterest ReceivableDebt
InvestmentsEquity InvestmentsGain on Sale of Investments
Interest
RevenueUnrealized Holding Gain or Loss - IncomeEquity InvestmentsNo
EntryInterest ReceivableCashInvestmentGain on Sale of
InvestmentsUnrealized Holding Gain or Loss - EquityDebt
InvestmentsFair Value Adjustment
Unrealized Holding Gain or Loss - IncomeNo EntryCashInterest
RevenueEquity InvestmentsGain on Sale of InvestmentsInterest
ReceivableUnrealized Holding Gain or Loss - EquityDebt
InvestmentsInvestmentFair Value Adjustment
Unrealized Holding Gain or Loss - IncomeGain on Sale of
InvestmentsFair Value AdjustmentInterest ReceivableNo EntryEquity
InvestmentsUnrealized Holding Gain or Loss -
EquityInvestmentInterest RevenueDebt InvestmentsCash