7. On September 5, 2019, ABC Company purchased 2,500 shares of BAC Inc. at a cost of $48 per share. These shares were purchased as short-term investment. On December 1, 2019, ABC Company sold 1,000 of these shares at a price of $50.5 per share. At December 31, 2019, market value of stock shares of BAC Inc. was $49 per share. On September 4, 2020, ABC Company purchased 1,500 additional shares of BAC Inc. at a cost of $49 per share. On December 1, 2020, ABC Company sold 100 of these shares at a price of $51.5 per share. ABC also paid $120 commission fees for this sale. At December 31, 2020, market value of stock shares of BAC Inc. was $51 per share. The sale of marketable securities on December 1, 2019 resulted in: 8. On December 13, 2019, a company sold goods on account and acquired a 15% note receivable from a customer. The principal amount of the note was $6,700. The note was due on February 13, 2020. On December 15, 2019, the company sold goods to another customer on account and acquired a 11% note receivable from that customer. The principal amount of the note was $5,700. The note was due on December 30, 2020. Adjusting entry at December 31, 2019 included: * Mi