Bentz Corporation bought and sold several securities during 2024. Listed below is a summary of the transactions:

February 17	Purchased $109,000 of U.S. Treasury 7% bonds at par plus accrued interest of $1,700. The security is to be held for short-term profits.
April 10	Purchased 570 shares of Gauges Incorporated common stock at $147 per share. This security will be held for an unspecified period of time.
August 8	Sold 170 shares of Gauges Incorporated for $157 per share.
October 5	Sold half of the U.S. Treasury bonds for $55,000 plus accrued interest of $370.

Required:

Prepare the journal entries for the above transactions.

1)Purchased $109,000 of U.S. Treasury 7% bonds at par plus accrued interest of $1,700. The security is to be held for short-term profits.

2)Purchased 570 shares of Gauges Incorporated common stock at $147 per share. This security will be held for an unspecified period of time.

3)Record the updation of the fair value adjustment.

4)Sold 170 shares of Gauges Incorporated for $157 per share.

5)Record the updation of the fair value adjustment.

6)Sold half of the U.S. Treasury bonds for $55,000 plus accrued interest of $370.