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Exercise 17-09 (Part Level Submission) At December 31, 2020, the available-for-sale debt portfolio for Bridgeport, Inc. is as follows. Security Cost Fair Value A $35,000 $30,000 B 25,000 28,000 46,000 51,000 Total $106,000 $109,000 Previous fair value adjustment balance-Dr. Fair value adjustment-Dr. Unrealized Gain (Loss) $(5,000 ) 3,000 5,000 3,000 800 $2,200 On January 20, 2021, Bridgeport, Inc. sold security A for $30,200. The sale proceeds are net of brokerage fees. (a) Your answer is correct. Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value. (Credit account titles are au select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Fair Value Adjustment 2200 Unrealized Holding Gair 2200 Click if you would like to Show Work for this question: Open Show Work (b) Your answer is partially correct. Try again. Show the balance sheet presentation of the investment-related accounts at December 31, 2020. (Do not leave BRIDGEPORT, INC Balance Sheet December 31, 2020 Current Assets Debt Investments 109000 Stockholders' Equity Common Stock Additional Paid-in Capital I DODO Retained Earnings Add Accumulated other Comprehensive Income Total Stockholders' Equity Click if you would like to Show Work for this question: Open Show Work

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