The following was reported by Church Financial in its December 31, 2021, financial statements. Investments at FVTPL. December 31, 2020 Investments at FVTPL. December 31, 2021 Investment income or (Loss) $12.300 16,800 (600) Additional information: The investments at FVTPL are investments in equity securities held for trading purposes. Investment income or loss consists of holding gain on the FVTPL investments of $2,800, and loss on sale of the FVTPL investments of $3,400. The carrying amount of the FVTPL investment sold was $4,500. 1. 2. 3. What is the cash amount received on the sale of the investment? $ Amount received on the sale of the investment Prepare the journal entries that were recorded by Church to record the sale of the investment and the holding gain on fair value adjustment at December 31, 2021. (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 for the amounts.) Date Account Titles and Explanation Credit Dec. 31 Debit (To record sale of investment.) Dec. 31 (To record fair value adjustment.) Prepare the journal entries that were recorded by Church to record the sale of the investment and the holding gain on fair value adjustment at December 31, 2021. (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 for the amounts.) Date Account Titles and Explanation Credit Dec. 31 Debit Loss on Sale of FVTPL Investments OCI-Gain on Fair Value Adjustment No Entry Investment income or Loss Cash Investments at FVTPL Dec. 31 (To record fair value adjustment.) Calculate the amount of investments purchased in 2021. Investments purchased $ Prepare the entry to record the purchase. (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 for the amounts.) Date Account Titles and Explanation Debit Dec. 31 Credit (To record purchase of investment.)