2 0.00 points Exercise 15-3 Accounting for trading securities LO C1, A1, P1, P2, P3 Brooks Co. purchases various investments in trading securities at a cost of $61,000 on December 27, 2015. (This is its first and only purchase of such securities.) At December 31, 2015, these securities had a fair value of $81,000 1. & 2. Prepare the December 31, 2015, year-end adjusting entry for the trading securities portfolio and the January 3, 2016, entry when Brooks sells a portion of its trading securities (that had originally cost 30,500) for $35,500 (If no entry is required select No journal entry required in the first entry field.) View transaction list Journal entry worksheet 2 Record the fair value of the securities at December 31, 2015 Note: Enter debits before credits. Date General Journal DebitCredit Dec 31, 2015 Record entry Clear entry View general journal