A i BRIEF EXERCISE 7.4 Mumford Corporation invested $30,000 in securities on 4 December. On 9 December, it sold some of these investments for $10,000, and on 18 December, it sold more of these investments for $5,000. The securities sold on 9 December had cost the company $7,000, whereas the securities sold on 18 December had cost the company $6,000. L Chapter 7 Financial Assets a. b. Record the purchase of securities on 4 December. Record the sale of securities on 9 December. Record the sale of securities on 18 December c. d. Record the necessary fair value adjustment on 31 December, assuming that the market value of the company's remaining unsold securities was $20,000. ing information pertaining to it