Homework Le Exercise 15-3 Accounting for trading securities LO P1 Brooks Co. purchases various investments in trading securities at a cost of $69,000 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 $78,000 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 $34,500) for $36,750. (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 Record the fair vale adjustment for the securities at December 31, 2017 Note: Enter debita before credits - General Journal Delt Date Dec 31, 2017 Croft Record entry Cartry View general Journal omework Exercise 15-3 Accounting for trading securities LO P1 Brooks Co purchases various investments in trading securities at a cost of $69,000 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 $78,000 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 $34,500) for $36,750. (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