+ableau 1. Prepare Sterling's journal entry on January 1 to record its purchase of stock investments with insignificant influence. 2. What is the fair value of Sterling's portfolio of stock investments on December 31 of this year? 3. Does Sterling record a gain or loss in its December 31 year-end adjusting entry to report its stock investments with insignificant Influence at fair value? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare Sterling's journal entry on January 1 to record its purchase of stock Investments with insignificant influence. View transaction list Journal entry worksheet 1 Record the purchase of stock investments with insignificant influence on January 1.