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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.

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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 900 shares of Ford Motor Co. at $27 per share plus a $130 commission. 9 Purchased 2,700 shares of Lucent at $38 per share plus a $195 commission. Oct. 12 Purchased 720 shares of 2-Seven at $7.60 per share plus a $95 commission. Dec. 31 Fair value of the short-term investments in trading securities is $136,800. 2018 Apr. 15 Sold 900 shares of Ford Motor Co. at $30 per share less a $295 commission. July 5 Sold 720 shares of 2-Seven at $10.25 per share less a $100 commission. July 22 Purchased 1,600 shares of Hunt Corp. at $38 per share plus a $225 commission. Aug. 19 Purchased 1,900 shares of Donna Karan at $47.80 per share plus a $110 commission. Dec. 31 Fair value of the short-term investments in trading securities is $250, 710. 2019 Feb. 27 Purchased 3,800 shares of HCA at $31 per share plus a $430 commission. Mar. 3 Sold 1,600 shares of Hunt at $33 per share less a $125 commission. June 21 Sold 2,700 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 $600 commission. Nov. 1 Sold 1,900 shares of Donna Karan at $47.80 per share less a $129 commission. Dec. 31 Fair value of the short-term investments in trading securities is $187,200. 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.)

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