1. Journalize the entries to record these transactions 2. If the bond portfolio is classified as available for sale, what impact would this hare on financial statement disclosure? PR 13-2A Stock investment transactions, trading securities Scofield Financial Co. is a regional insurance company that began operations on January L, 2016. The following transactions relate to trading securities acquired by Scofield Financial OBJ3,4 Co, which has a fiscal year ending on December 31 2016 Mar. 14. Purchased 5,000 shares of Wilkomm Inc. as a trading security at $40 per share Apr. 24. Purchased 1,800 shares of McMarsh Inc. as a trading security at $50 plus a June 1. Sold 2,600 shares of Wilkomm Inc. for $38 per share less a $100 brokerage plus a brokerage commission of $500. brokerage commission of $198. commission 30. Received an annual dividend of $0.35 per share on Wilkomm Inc, stock. Dec. 31 The portfolio of trading securities was adjusted to fair values of $38 and $49 per share for Wilkomm Inc. and McMarsh Inc., respectively 2017 Apr. 4. Purchased 3,500 shares of Daley Inc. as a trading security at $30 per share plas a $175 brokerage commission. June 28. Received an annual dividend of $0.40 per share on Wilkomm Inc. stock. Sept. 9. Sold 700 shares of Daley Inc. for $32 per share less a $50 brokerage commission. Dec. 31. The portfolio of trading securities had a cost of $270,578 and a fair value of $350,000, requiring a debit balance in Valuation Allowance for Trading nce from Investments of $79,422 ($350,000 - $270,578). Thus, the credit balance fr December 31, 2016, is to be adjusted to the new balance