Carlsville Company, which began operations in 2015, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities.

2015
Jan.	20		Purchased 900 shares of Ford Motor Co. at $27 per share plus a $120 commission.
Feb.	9		Purchased 2,400 shares of Lucent at $37 per share plus a $200 commission.
Oct.	12		Purchased 740 shares of Z-Seven at $7.60 per share plus a $90 commission.
Dec.	31		Fair value of the short-term investments in trading securities is $124,200.

2016
Apr.	15		Sold 900 shares of Ford Motor Co. at $29 per share less a $290 commission.
July	5		Sold 740 shares of Z-Seven at $11.00 per share less a $90 commission.
July	22		Purchased 1,700 shares of Hunt Corp. at $34 per share plus a $230 commission.
Aug.	19		Purchased 1,800 shares of Donna Karan at $43.20 per share plus a $105 commission.
Dec.	31		Fair value of the short-term investments in trading securities is $218,645.

2017
Feb.	27		Purchased 3,900 shares of HCA at $38 per share plus a $430 commission.
Mar.	3		Sold 1,700 shares of Hunt at $29 per share less a $120 commission.
June	21		Sold 2,400 shares of Lucent at $34.75 per share less a $42 commission.
June	30		Purchased 1,400 shares of Black & Decker at $47.50 per share plus a $595 commission.
Nov.	1		Sold 1,800 shares of Donna Karan at $43.20 per share less a $124 commission.
Dec.	31		Fair value of the short-term investments in trading securities is $221,500.

Required:

Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. (If no entry is required select No journal entry required in the first entry field. Do not round your intermediate calculations.)