QS 15-4 Recording trading securities LO P1 Prepare Hertog Company's journal entries to reflect the following transactions for the current year May 7 Purchases 370 shares of Kraft stoc k as a short-term investment in trading securities at a cost of $67 per share plus $470 in broker fees. June 6 Sells 370 shares of its investment in Kraft stock at $73 per share. The broker's commission on this sale is $235. View transaction list Journal entry worksheet 2 Record the purchase of 370 shares of Kraft stock as a short-term investment in trading securities at a cost of $67 per share plus $470 in broker fees. Note: Enter debits before credits. Date General Journal Debit Credit May 07 tion list al entry worksheet 2 the ling s inve er fee Accounts receivable Brokerage fee expense er det Cash Dividend revenue 07 ecord entry Clear entry View his sale is $235. ransaction list urnal entry worksheet 1 2 Earnings from investment ecord theEarnings from long-term investment n trading s n investm er fees. te: Enter de Date May 07 Fair value adjustment-Available-for-sale (ST) Fair value adjustment-Trading Fair value adjustment-Trading (LT) Foreinn exchange aain Cre Record entry Clear entry View gen ion list l entry worksheet 2 Foreign exchange gain Foreign exchange loss Gain on sale of short-term investments Interest receivable Interest revenue Long-term Investments-Trading (Kraft) the inv er fe er de 07 ecord entry Clear entry View ction list al entry worksheet 2 Loss on sale of investment Sales d the ding s inv er fe Short-term Investments-Trading (Kraft) Unrealized gain-Equity Unrealized gain-Income Unrealized loss-Fauitv ter de ate y 07 Record entry Clear entry View sale iS $235 ction list al entry worksheet 2 Short-term Investments-Trading (Kraft) dthe ding s Unrealized gain-Equity n investmen er fees Unrealized gain-Income Unrealized loss-Equity Unrealized loss-Income ter deb te it Credit 07 Record entry Clear entry View gener View transaction list Journal entry worksheet 2 Record the sale of 370 shares of its investment in Kraft stock at $73 per share. The broker's commission on this sale is $235 Note: Enter debits before credits. Date General Journal Debit Credit June 06 Record entry Clear entry View general journal