snort-term stock investments with insignificant innuence. Prepare journal entries to record these transactions. Un December 5, prepare the adjusting entry to record the fair value adjustment for the portfolio of stock Investments. July 22 Purchased 1,600 shares of Hunt Corporation at $30 per share. September 5 Received a $2 cash dividend for each share of Hunt Corporation. September 27 Purchased 3,400 shares of HCA at $34 per share. October 3 Sold 1,600 shares of Hunt at $25 per share. October 30 Purchased 1,200 shares of Black & Decker at $50 per share. December 17 Received a $3 cash dividend for each share of Black & Decker. December 31 Fair value of the short-term stock investments is $180,000. No 1 Date July 22 Cash 2 September 05 Cash Dividend revenue 3 September 27 Cash 4 October 03 Cash Answer is not complete. General Journal Debit Credit 48,000 48,000 Loss on sale of stock investments 5 October 20 Cash 8 December 17 Cash Dividend revenue 00 3,200 3,200 115,600 115,600 40,000 8,000 48,000 60,000 60,000 3,600 S 3,600 7 December 31 Fair value adjustment - Stock 4,400 Unrealized gain - Income 4,400