Krogstad Corporation bought 1,000 shares of Cole Inc. common stock for $90 per share Three months later, the shares were sold for $110 per share. Required: 1. Prepare the appropriate journal entry to record the purchase of the stock. 2. Prepare the appropriate journal entry to record the sale of the stock. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entry to record the purchase of the stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the purchase of the stock. Note: Enter debits before credits. Transaction Debit Credit General Journal Krogstad Corporation bought 1,000 shares of Cole Inc. common stock for $90 per share Three months later, the shares were sold for $110 per share. Required: 1. Prepare the appropriate journal entry to record the purchase of the stock. 2. Prepare the appropriate journal entry to record the sale of the stock. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entry to record the sale of the stock. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet > Record updation of the fair value adjustment. Note: Enter debits before credits. Transaction General Journal 1 Debit Credit Krogstad Corporation bought 1,000 shares of Cole Inc. common stock for $90 per share Three months later, the shares were sold for $110 per share. Required: 1. Prepare the appropriate journal entry to record the purchase of the stock. 2. Prepare the appropriate journal entry to record the sale of the stock. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entry to record the sale of the stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Recording the sale transaction. Note: Enter debits before credits. Transaction Debit Credit 2 General Journal