While reviewing the March 31, 2018, balance sheet of Business Solutions, Santana Rey notes that the business has built a large cash balance of $68,067 its most recent bank money market statement shows that the funds are earning an annualized return of 0.25% 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 540 shares of Johnson & Johnson stock at $48 per share plus a $340 comission. Apr. 30 Purchases 250 shares of Starbucks Corporation at $33 per share plus a $250 comission. On June 30, 2018, the per share market price (fair value) of the Johnson & Johnson shares is $53 and the Starbucks shares is $30. 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 On June 30, 2018, prepare the adjusting entry to record any necessary fair value adjustment to its portfolio of trading securities. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Viewraction list 2. Jure 2010, prepare it wujusung thuy to record Rely on Value USUL ES POTLO O Secus 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 View journal entry worksheet Credit No 1 Date Apr 16, 2018 General Journal Short-term investments-Trading (J&J) Cash Debit 26.260 26.260 2 Apr 30, 2018 Short-term investments-Trading (Starbucks) 8,500 Cash 8.500 Required 2 > 2. Jure U, 2010, prepare te dusury eru yo u dilly Telesedly Idol valuedujus IS por se Complete this question by entering your answers in the tabs below. Required 1 Required 2 Book On June 30, 2018, prepare the adjusting entry to record any necessary fair value adjustment to its portfolio of trading securities (if no entry is required for a transaction/event, select "No journal entry required in the first account field.) ences View transaction list View journal entry worksheet Debit Credit No 1 Date Jun 30, 2018 General Journal Fair value adjustment-Trading Unrealized gain-Income