8th State Bank prepares interim financial statements and follows an investment strategy of investing in trading securities. At the beginning of the third quarter of 2018, the bank held the following portfolio of trading securities: Security June 30, 2018 Fair Value $2,800 100 shares of Gordan Company common stock Cost $2,900 12,000 $14,900 600 shares of Olivia Company common stock 12,600 Totals $15,400 During the third quarter of 2018, the bank entered into the following trading securities transactions: Received dividends of $1.50 per share on the Gordan Company common stock. July 2 14 Sold 600 shares of Olivia Company common stock for $20 per share. Aug. 9 Purchased 300 shares of Porter Company common stock for $36 per share. 24 Sold 100 shares of Gordan Company common stock for $30 per share. Sept. 17 Purchased 500 shares of Union Company common stock for $22 per share. On September 30, 2018, the Porter Company common stock had a quoted market price of $36.50 per share and the Union Company common stock had a quoted market price of $21 per share. Required: 1. Prepare journal entries to record the preceding information