Carlsville Company, which began operations in 2017, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities. 2017 Jan. 20 Purchased 800 shares of Ford Motor Co. at $27 per share plus a $120 commission. Feb. 9 Purchased 2,600 shares of Lucent at $38 per share plus a $195 commission Oct. 12 Purchased 780 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 $130,000 2018 Apr. 15 Sold 800 shares of Ford Motor Co. at $31 per share less a $295 commission. July 5 Sold 780 shares of Z-Seven at $10.75 per share less a $100 commission July 22 Purchased 1,900 shares of Hunt Corp. at $33 per share plus a $225 commission Aug. 19 Purchased 1,900 shares of Donna Karan at $43.00 per share plus a $105 commission Dec. 31 Fair value of the short-term investments in trading securities is $236,955. 2019 Feb. 27 Purchased 3,900 shares of HCA at $39 per share plus a $440 commission Mar June 21 Sold 2,600 shares of Lucent at $35.75 per share less a $37 commission June 30 Purchased 1,300 shares of Black & Decker at $47.50 per share plus a $595 commission Nov. 1 Sold 1,900 shares of Donna Karan at $43.00 per share less a $124 commission Dec. 31 Fair value of the short-term investments in trading securities is $220,500 3 Sold 1,900 shares of Hunt at $28 per share less a $130 commission. 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 for a transaction/event, select "No journal entry required" in the first account field. Do not round your intermediate calculations.) Complete this question by entering your answers in the tabs below 2017 2018 2019 Complete this question by entering your answers in the tabs below. 2018 2017 2019 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. View transaction list View journal entry worksheet Credit No Date General Journal Debit Cash 1 Apr 15 24,505 2,785 Gain on sale of short-term investments Short-term investments-Trading (Ford) 21,720 Cash 2 Jul 05 8,285 Gain on sale of short-term investments 2.267 Short-term investments-Trading (Z-Seven) 6,018 Short-term investments-Trading (Hunt) Jul 22 62,925 Cash 62,925 Short-term investments-Trading (D.Karan) Aug 19 81,805 4 Cash 81,805 Unrealized loss-Income 59,435 Dec 31 Fair value adjustment-Trading (ST) 59,435 2017 2019 2018 2019 2017 Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, pre adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities. View transaction list Journal entry worksheet 2 3 5 1 4 Record the unrealized gain or loss on short term investment. Note: Enter debits before credits. Debit Date General Journal Credit Unrealized loss-Income Dec 31 59,435 Fair value adjustment-Trading (ST) 59,435 Record entry View general journal Clear entry