cht2 Question 3 (of 33) 1.00 points Shott Farm Supplies Company purchased 800 shares of G Motors shares at $50 per share and paid a brokerage fee of $1,200. Two months later, the shares were sold for $53 per share. The brokerage fee on the sale was $1,300. Required: Prepare entries for the purchase and the sale General Journal Credit Investment in GM common shares 41200 -41200 Cash Cash Loss on sale of investments Investment in GM common shares 1200 References Worksheet Learning Objective: 12-02 Demonstrate how to identify and account for investments classified for reporting purposes as trading securities Learning Objetive: 12-03 Demo classified for reporting purposes