buys debt to profit from short-term differences in price and not necessarily to hold debt securities to not r 31. No investments were held by on December 31, 2017 oct. 2 Sold the Distribution Transformers bonds for $425,e00 Nov. 1 $1,460,000 e the fair-value adjustment, record any reclassification adjustment, and record the sale. income, and 1 at required in the first account field.)