While reviewing the March 31, 2018, balance sheet of Business Solutions, Santana Rey notes that the business has built a large cash balance of $68,057. Its most recent bank money market statement shows that the funds are earning an annualized return of 0.75%. S Rey decides to make several investments with the desire to earn a higher return on the idle cash balance. Accordingly, in April 2018, Business Solutions makes the following investments in trading securities: Apr. 16 Purchases 400 shares of Johnson &Johnson stock at $50 per share plus a $300 commission Apr. 30 Purchases 200 shares of Starbucks Corporation at $22 per share plus a $250 commission. On June 30, 2018, the per share market price (fair value) of the Johnson&Johnson shares is $55 and the Starbucks shares is $19. Required 1. Prepare journal entries to record the April purchases of trading securities by Business Solutions. 2. On June 30, 2018, prepare the adjusting entry to record any necessary fair value adjustment to its portfolio of trading securities. Complete this question by entering your answers in the tabs below Required 1 Required 2 Prepare journal entries to record the April purchases of trading securities by Business Solutions View transaction list Journal entry worksheet 2 Record the short-term investment in 400 shares of Johnson and Johnson at 50 per share plus the broker's fee of $300 on April 16, 2018. Note: Enter debits before credits. Date General Journal Debit Credit Apr 16, 2018