Complete the following descriptions by selecting the appropriate option. 1. Debt securities reflect a relationship such as investments in notes, bonds, and certificates of deposit. 2. Equity securities reflect an) relationship such as shares of stock issued by companies Short-term investments are securities that (1) management intends to convert to cash within whichever is longer, and (2) are readily convertible to Long-term investments in securities are defined as those securities that are convertible to cash or are to be converted into cash in the short term. Prepare journal entries to record the following transactions involving the short-term securities investments of Duke Co., all of which occurred during year 2017 a. On March 22, purchased 1,000 shares of RIP Company stock at $10 per share plus an $80 brokerage fee. These shares are categorized as trading securities. b. On September 1, received a $1.00 per share cash dividend on the RIP Company stock purchased in transaction a c. On October 8, sold 500 shares of RIP Co. stock for $15 per share, less a $50 brokerage fee