On March 1, 2021, Young Company purchased the following stock as long-term investments in available- for-sale securities: Old Corporation common stock (par $5), 2,000 shares at $5 per share (10% of outstanding shares) ABC Corporation common stock (par $10), 3,000 shares at $25 per share (15% of outstanding shares) XYZ Corporation common stock (par $10), 3,000 shares at $20 per share (10% of outstanding shares) The market prices per share at December 31, end of the accounting period, were as follows: Dec 31, 2021 Dec 31, 2022 $7 $25 $17 D Stock Old commo $6 ABC common $24 XYZ common $21 1. Give the required journal entries at the following dates: Match 1, 2021, December 31,2021 and December 31, 2022; 2. On Jan 4, 2023, Young Company sold all Old Corporation's common stocks at $8 per share. Give the required journal entries on this date. If investments in Old Corporation were considered as trading securities, give the required journal entries when selling them