View Policies Current Attempt in Progress 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) $12,800 17,400 (600) Additional information: 1. 2. 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 $2,900, and loss on sale of the FVTPL investments of $3,500. The carrying amount of the FVTPL investment sold was $4,600. 3. What is the cash amount received on the sale of the investment? Amount received on the sale of the investment $ Question Part Score --/1 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.) Debit Credit Date Account Titles and Explanation Dec. 31 (To record fair value adjustment.) Question Part Score --/3 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 Credit Dec. 31 (To record purchase of investment.) Question Part Score --/2