(Answered) Dominion resourcesinc is one of the nations largest

Accounting

Dominion Resources,Inc. is one of the nation's largest producers of energy. Corporate headquarters are in Richmond, Va. The following is an excerpt from a recent annual report.
INVESTMENT SECURITIES (IN PART)
Available-for-sale securities are reported at fair value with realized gains and losses and any other-than-temporary declines in fair value included in other income and unrealized gains and losses reported as a component of AOCI, net of tax.Dominion's statement of comprehensive income reported an "Unrealized gain on investment securities, net of $83 million tax expense of $126 million."

Required:

1. Explain how investment securities classified as available for sale are accounted for.

2. What would have been Dominion's journal entry to reflect the fair value of the investments?

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