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Texan Textiles invested in two equity securities in December 2018. Neither investment represented significant influence. The company's fair value adjustment account has a balance of

Texan Textiles invested in two equity securities in December 2018. Neither investment represented significant influence. The company's fair value adjustment account has a balance of $0. The following information related to these securities:

Security Purchase Date Cost Fair Value - 12/31/18

1 12/1/18 $27,300 $32,500

2 12/3/18 44,600 37,750

Record ALL journal entries needed for December relating to these securities. ACQUISITION AND VALUATION ENTRIES.

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