In February 2003, Packard Corporation purchased the following securities. Prior to these purchases, Packard had no portfolio of investment securities.

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Security Type Classification Cost 1 Debt Trading $11,500 2 Equity Trading 9,000 3 Equity Available-for-sale 7,250 4 Debt Available-for-sale 12,300 During 2003, Packard received $2,400 in interest and $1,800 in dividends. On December 31, 2003, Packard's portfolio of securities had the following market values: Security 1 Fair Market Value 2 3 4 $12,000 8,750 7,500 12,500 Prepare the journal entries required to record each of these transactions.