Prepare the December 27 entry for the purchase of debt investments. Journal entry worksheet Record purchase of trading securities. Note: Enter debits before credits. Brooks Co. purchases debt investments as trading securities at a cost of $66,000 on December 27 . This is its first and only purchase of such securities. At December 31 , these securities had a fair value of $72,000. 1. Prepare the December 27 entry for the purchase of debt investments. 2. \& 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $3,000 ) for $4,000 cash. Complete this question by entering your answers in the tabs below. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $3,000 ) for $4,000 cash. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Bro sells a portion of its trading securities (costing $3,000 ) for $4,000 cash. Journal entry worksheet Record the year-end adjustment to fair value, if any. Note: Enter debits before credits. Prepare the December 27 entry for the purchase of debt investments. Journal entry worksheet Record purchase of trading securities. Note: Enter debits before credits. Brooks Co. purchases debt investments as trading securities at a cost of $66,000 on December 27 . This is its first and only purchase of such securities. At December 31 , these securities had a fair value of $72,000. 1. Prepare the December 27 entry for the purchase of debt investments. 2. \& 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $3,000 ) for $4,000 cash. Complete this question by entering your answers in the tabs below. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $3,000 ) for $4,000 cash. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Bro sells a portion of its trading securities (costing $3,000 ) for $4,000 cash. Journal entry worksheet Record the year-end adjustment to fair value, if any. Note: Enter debits before credits