McElroy Company has the follow portfolio of investment securities at 9/30/10 (its last reporting date): Trading Securities Cost FV Horton, common (5,000 shares) 215,000 200,000 Monty, common (3,500 shares) 133,000 140,000 Oakwood, common (1,000 shares) 180,000 179,000 On October 10, 2010 the Horton shares were sold at a price of $54 per share. Also 3,000 shares of Patriot common stock were acquired at 54.50 per share on 11/2/10. All securities are classified as trading. The Dec 31, 2010 fair values were: Monty $ 106,000 Patriot $ 132,000 Oakwood $ 193,000 a) Prepare journal entries to record the sale, purchase and adjustin entries related to the trading securities in the last quarter of 2010. b) How would the entries in part (a) change if the securities were classified as avilable for sale