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On January 8, Ekklesia Enterprises purchased Southwood bonds as a short-term investment in trading securities at a cost of $70,200. On November 8 of the

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On January 8, Ekklesia Enterprises purchased Southwood bonds as a short-term investment in trading securities at a cost of $70,200. On November 8 of the same year. Ekklesia sells one-third of its entire investment in Southwood bonds for $27,200. The journal entry for Ekklesia on November 8 includes a: Multiple Choice Debit to Loss on Sale of Debt Investment for $43,000. Credit to Debt Investments-Trading for $23,400. Debit to Cash for $23,400. Debit to Fair Value Adjustment-Trading for $3,800. Credit to Foir Value Adjustment-Trading for $3,800

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