1. An investor who owns 150 shares ofSimply Simple purchased at P 108 each and traded as available-for sale securities. receives 150 rights to buy at par of P100 one share for every three rights held. On the date the share went eat-rights, it had a market value of P116 each. The investor sold all his rights at the market value of P4 each. The sale price was recorded in the books as income from investment The adiusting entry includes a debit to _ for P and credit to for P