On December 28, Summit purchased Microsoft common shares for $485,000. On December 31, the shares had a fair value of $483,000. Record the initial investment by Summit and, if appropriate, an adjustment to record the investment at fair value. (if no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of the investment. Note: Enter debits before credits General Journal Debit Credit Date December 28 View general journal Record entry Clear entry View transaction list Journal entry worksheet 1 2 > Record adjusting entry of investments to fair value. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal