Nate Corporation bought $100,000 in marketable securities on November 2, 2019. On December 5, they sold some of the investments for $42,000. The marketable securities they sold cost them $36,000. 1. Prepare the journal entry for the purchase of the marketable securities on 11/2/19. 1 2. Prepare the journal entry for the sale of marketable securities on 12/5/19. 3. Prepare the journal entry necessary to adjust the marketable securities to market value on 12/31/12. The market value for the unsold securities owned by the company was $85,000