Brooks Co. purchases various investments in trading securities at a cost of $76,000 on December 27, 2017. (This is its first and only purchase of such securities.) At December 31, 2017, these securities had a fair value of $95,000. 1. & 3. Prepare the December 31, 2017, year-end adjusting entry for the trading securities' portfolio and the January 3, 2018, entry when Brooks sells a portion of its trading securities (that had originally cost $38,000) for $42,750. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the fair vale adjustment for the securities at December 31, 2017 Note: Enter debits before credits. General Journal Date Debit Credit Dec 31, 2017 Record entry Clear entry View general journal Record the fair vale adjustment for the securities at December 31, 2017. 1 Prepare the January 3, 2018, entry when Brooks sells a portion of its trading securities (that had originally cost $38,000) for $42,750. 2