Kirkland Company had no trading debt securities prior to this year. It had the following transactions this year involving trading debt securities Aug 2 Purchased Verizon bonds for $42,000 Sept. Purchased Apple bonds for $67,000 12 Purchased Mastercard bonds for $52,000 Oct 21 Sold some of its Verizon bonds that had cost $3,600 for $3,700 cash 23 Sold some of its Apple bonds that had cost $47,000 for $47,400 cash 1 Purchased Walmart bonds for $72,000. Dec 10 Sold all of its Mastercard bonds for $50,000 cash NO Required 1. Prepare journal entries to record these transactions 2. Prepare a table to compare the year-end cost and fair values of its trading debt securities. Year-end fair values: Verizon, $40.500 Apple. $38,000; and Walmart, $55,000 3. Prepare the adjusting entry to record the year end fair value adjustment for the portfolio of trading debt securities Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the adjusting entry to record the year-end fair value adjustment for the portfolio of trading debt securities