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ion II 2021/ACT 340B/D1 521 BBC Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2016, BBC

ion II 2021/ACT 340B/D1 521 BBC Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2016, BBC Financials purchased Coca-Cola common shares for $875,000 and sold the shares on January 3, 2017, for $880,000.At December 31, the shares had a fair value of $873,000. Journalise the transactions for December 27,2016 and adjustment entry for December 31, 2016

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