The following was reported by Church Financial in its December 31, 2024, financial statements: Investments at FVTPL, December 31, 2023 $9,900 Investments at FVTPL, December 31, 2024 13,500 Investment income or (loss) (400) Additional information: 1. The investments at FVTPL are investments in equity securities held for trading purposes. 2. Investment income or loss consists of: holding gain on the FVTPL investments of $2,300, and loss on sale of the FVTPL investments of $2,700. 3. The carrying amount of the FVTPL investment sold was $3,600. (a) Your Answer Correct Answer (Used) What is the cash amount received on the sale of the investment? Amount received on the sale of the investment 900 (b) Prepare the journal entries that were recorded by Church to record the sale of the investment and the holding gain on fair valu adjustment at December 31, 2024. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Account Titles and Explanation Dec. 31 Cash Investment Income or Loss Investments at FVTPL No Entry OCI-Gain on Fair Value Adjustment (To record fair value adjustment.) Debit Credit