During 2021, Largent Enterprises purchased bonds as follows: May 17, Purchased 100 Nugent bonds for $800 per bond. July 12, Purchased 40 Alfredo bonds at $600 per bond, plus a $600 brokerage commission Largent accounts for these investments as securities available-for-sale. At December 31, 2021, the market values of the securities were as follows: Market Value per Bond Security Nugent Alfredo $720 $640 Required: 1. Prepare the journal entries to record the acquisition of the two investments. 2. Prepare any necessary adjusting entries assuming the bonds are both classified as available-for-sale securities