Need answers to 7.4

Mumford Corporation invested $30,000 in marketable securities on December 4. On December 9, it sold some of these investments for $10,000, and on December 18, it sold more of these invest- ments for $5,000. The securities sold on December 9 had cost the company $7,000, whereas the securities sold on December 18 had cost the company $6,000 Chapter 7 Financial Assets a. Record the purchase of marketable securities on December 4. b. Record the sale of marketable securities on December 9 c. Record the sale of marketable securities on December 18. Record the necessary fair value adjustment on December 31, assuming that the m of the company's remaining unsold securities was $20,000. d