Hurricane Inc. purchased a portfolio of available-for-sale securities in Year 1, its first year of operations. The cost and fair value of this portfolio on December 31, Year 1, was as follows:

Name	Number of shares	Total Cost	Total Fair Value
Tornado Inc.	1,450	$19,430	$21,570
Tsunami Corp.	850	27,880	30,390
Typhoon Corp	300	9,300	8,840
Total		$56,610	$60,800

On June 12, Year 2, Hurricane purchased 600 shares of Rogue Wave Inc. at $31 per share plus a $80 brokerage commission.

a. Provide the journal entries to record the following:

1.The adjustment of the available-for-sale security portfolio to fair value on December 31, Year 1.

2. The June 12, Year 2, purchase of Rogue Wave Inc. stock.