Brooks Co. purchases debt investments as trading securities at a cost of $62.000 on December 27. This is its first and only purchase of such securities. At December 31, these securities had a fair value of $78,000. 1. Prepare the December 27 entry for the purchase of debt Investments. 2 & 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $31.000) for $35.000 cash. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Prepare the December 27 entry for the purchase of debt investments, View transaction at Journal entry worksheet Record the year-end adjustment to fair value, if any. Note: Enter debits before credits Date General Journal Debit Credit Dec. 31 Record entry Clear entry View general Journal Journal entry worksheet