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Brooks Co purchases various investments in trading securities at a cost of $62,000 on December 27, 2017. (This is its first and only purchase of such securities) At December 31, 2017, these securities had a fair value of $81000 1. & 3. Prepare the December 31, 2017 year-end adjusting entry for the trading securities portfolio and the January 3, 2018, entry when Brooks sells a portion of its trading securities (that had originally cost $31.000) for $35,750 (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet