Exercise 17-11 (Part Level Submission) Flounder Corporation made the following cash purchases of securities during 2017, which is the first year in which Flounder invested in securities. 1. 2. On January 15, purchased 10,230 shares of Sanchez Company's common stock at $40.20 per share plus commission $2,210. On April 1, purchased 5,230 shares of Vicario Co.'s common stock at $62.40 per share plus commission $3,600. On September 10, purchased 7,230 shares of WTA Co.'s preferred stock at $31.80 per share plus commission $5,140. 3. On May 20, 2017, Flounder sold 4,230 shares of Sanchez Company's common stock at a market price of $42 per share less brokerage commissions, taxes, and fees of $4,080. The year-end fair values per share were Sanchez $36, Vicario $66, and WTA $33.60. In addition, the chief accountant of Flounder told you that the corporation plans to hold these securities for the long- term but may sell them in order to earn profits from appreciation in prices. The equity method of accounting is not appropriate for these stock purchases. (a) Prepare the journal entries to record the above three security purchases. (Round answers to 0 decimal places, e.g. 2,500. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Date Account Titles and Explanation Debit Credit (1) (2) (3) Click if you would like to Show Work for this question: Open Show Work