At December 31, 20×1, the available-for-sale equity

At December 31, 20×1, the available-for-sale equity security portfolio for Dunn, Inc., is as follows: Security Cost Fair ValueA $17,500 $15,000B 12,500 14,000C 23,000 25,500 Total 53,000 54,500Previous unrealized holding gain/loss balance – Cr. 400On January 20, 20×2, Dunn sold security A for $15,200, and paid a brokerage fee of $100.Required:Prepare the adjusting entry at December 31, 20×1.Show the balance sheet presentation of the investment related accounts at December 31, 20×1.Prepare the journal entry for the sale of security A.Do Questions 1, 2 & 3, assuming the investments are classified as trading securities. For this question, ignore the previous balance of unrealized holding gain/loss.