1 Brooks Co. purchases debt investments as trading securities at a cost of $56,000 on December 27. This is its first and only purchase of such securities. At December 31, these securities had a fair value of $65,000. 0.9 points 1. Prepare the December 27 entry for the purchase of debt investments. 2. & 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $28,000) for $30,250 cash. Complete this question by entering your answers in the tabs below. eBook Req 1 Reg 2 and 3 Hint Prepare the December 27 entry for the purchase of debt investments. Print View transaction list References Journal entry worksheet 1 > Record purchase of trading securities. Note: Enter debits before credits. Date General Journal Debit Credit Dec. 27 Req 1 Req 2 and 3 Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $28,000) for $30,250 cash. View transaction list :X: > Record the year-end adjustment to fair value, if any. 1 2 Record sale of trading securities. Credit Note : = journal entry has been entered Record entry Clear entry View general journal