Kirkland Company had no trading debt securities prior to this year. It had the following transactions this year involving trading debt securities Aug. Sept. Oct. 2 Purchased Verizon bonds for $10,000. 7 Purchased Apple bonds for $35,000. 12 Purchased Mastercard bonds for $20,000. 21 Sold some of its Verizon bonds that had cost $2,000 for $2,100 cash. 23 Sold some of its Apple bonds that had cost $15,000 for $15,400 cash. 1 Purchased Walmart bonds for $40,000. 10 Sold all of its Mastercard bonds for $18,000 cash. Nov. Dec. 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, $8,500; Apple, $22,000; and Walmart, $39,000. 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 journal entries to record these transactions View transaction list Journal entry worksheet Required 1 Required 2 Required 3 Prepare journal entries to record these transactions. View transaction list Journal entry worksheet ces 1 2 3 4 5 6 7 > Purchased Verizon bonds for $10,000. Note: Enter debits before credits Dato General Journal Dobit Credit Aug. 2 Record entry Clear entry View general journal Required 1 Required 2 Required 3 Prepare journal entries to record these transactions. View transaction list Journal entry worksheet Required 1 Required 2 Required 3 Prepare journal entries to record these transactions. View transaction list Journal entry worksheet Sold some of its Verizon bonds that had cost $2,000 for $2,100 cash. Note: Enter debits before credits Dato General Journal Debit Credit Oct. 21 Record entry Clear entry View general Journal Required 1 Required 2 Required 3 Prepare journal entries to record these transactions. View transaction list Journal entry worksheet Purchased Walmart bonds for $40,000. Note: Enter debits before credits. General Journal Debit Credit Date Nov. 1 Record entry Clear entry View general Journal Required 1 Required 2 Required 3 Prepare journal entries to record these transactions. View transaction list Journal entry worksheet 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, View transaction list Journal entry worksheet