Problem. During 2018, Largent Enterprises purchased stock as follows: May 17. Purchased 1,000 shares of Nugent common stock for 580 per share. July 12, Purchased 400 shares of Alfredo common stock at $60 per hare, plus a 5600 brokerage commission Largent accounts for these investments as securities available for sale. At December 31, 2018, the market values of the securities were as follows: Security Market Value per Share Nugent Alfredo Required: (1.) Prepare the journal entries to record the acquisition of the two investments. (Two separate entries) (2.) Prepare the necessary adjusting entries at December 31, 2018 assuming the stocks are both classified as available for sale securities