Exercise 17-15 Teal Company has the following securities in its portfolio on December 31, 2017. None of these investments are accounted for under the equity method. Investments Cost Fair Value 1,500 shares of Gordon, Inc., Common $72,600 $68,600 5,000 shares of Wallace Corp., Common 400 shares of Martin, Inc., Preferred 174,800 169,400 57,300 55,600 $303,000 $295,300 All of the securities were purchased in 2017 In 2018, Teal completed the following securities transactions Sold the 1,500 shares of Gordon, Inc., Common, $45 less fees of $1.200. Bought 700 shares of Earnhart Corp., Common, $75 plus fees of $1,300. March 1 April 1 Teal's portfolo of equity securities appeared as follows on December 31, 2018. Investments Fair Value Cost 5,000 shares cof Wallace Corp., Common $174,800 $169,400 700 shares of Earnhart Corp, Common 53,800 50,000 55.600 400 shares of Martin, Inc, Preferred 53,800 $284,200 $273,200 Prepare the general journal entries for Teal Company for The 2017 adjusting entry (a) Prepare the general journal entries for Teal Company for: FULL SCREEN PRINTER VERSON 4 BACK (a) The 2017 adjusting entry. (b) The sale of the Gordon stock (c) The purchase of the Earnhart stock (d) The 2018 adjusting entry for the trading portfolo. (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 0 for the amounts.) No. Account Titles and Explanation Debit Credit (a) (b) (c) (d)