Korman Company has the following securities in its portfolio of equity securities on December 31, 2018: Cost Fair Value 5,000 shares of Thomas Corp., Common $152,000 $139,800 10,000 shares of Gant, Common 180,000 188,800 $332,000 $328,600 All of the securities had been purchased in 2018. In 2019, Korman completed the following securities transactions: March 1 Sold 5,000 shares of Thomas Corp., Common @ $31.00 less fees of $1,500. April 1 Bought 590 shares of Werth Stores, Common @ $45 plus fees of $510. The Korman Company portfolio ofequity securities appeared as follows on December 31, 2019: Cost Fair Value 10,000 shares of Gant, Common $180,000 $190,900 590 shares of Werth Stores, Common 27,060 24,900 $207,060 $215,800

Part 1) Prepare the general journal entry for Korman Company for the purchase of the Werth Stores' stock.

part 2)

Prepare the general journal entry for Korman Company for the 2019 adjusting entry.