Carlsville Company, which began operations in 2017, invests itsidle cash in trading securities. The following transactions arefrom its short-term investments in trading securities.
2017
| Jan. | | 20 | | Purchased 1,000 shares of Ford Motor Co. at $27 per share plusa $120 commission. |
| Feb. | | 9 | | Purchased 2,500 shares of Lucent at $34 per share plus a $195commission. |
| Oct. | | 12 | | Purchased 760 shares of Z-Seven at $7.60 per share plus a $100commission. |
| Dec. | | 31 | | Fair value of the short-term investments in trading securitiesis $122,700. |
2018
| Apr. | | 15 | | Sold 1,000 shares of Ford Motor Co. at $30 per share less a$290 commission. |
| July | | 5 | | Sold 760 shares of Z-Seven at $10.75 per share less a $95commission. |
| July | | 22 | | Purchased 1,600 shares of Hunt Corp. at $37 per share plus a$225 commission. |
| Aug. | | 19 | | Purchased 1,700 shares of Donna Karan at $47.00 per share plusa $100 commission. |
| Dec. | | 31 | | Fair value of the short-term investments in trading securitiesis $220,190. |
2019
| Feb. | | 27 | | Purchased 3,700 shares of HCA at $38 per share plus a $410commission. |
| Mar. | | 3 | | Sold 1,600 shares of Hunt at $32 per share less a $130commission. |
| June | | 21 | | Sold 2,500 shares of Lucent at $31.75 per share less a $37commission. |
| June | | 30 | | Purchased 1,200 shares of Black & Decker at $47.50 pershare plus a $600 commission. |
| Nov. | | 1 | | Sold 1,700 shares of Donna Karan at $47.00 per share less a$119 commission. |
| Dec. | | 31 | | Fair value of the short-term investments in trading securitiesis $205,500. |
Required:
Prepare journal entries to record these short-term investmentactivities for the years shown. On December 31 of each year,prepare the adjusting entry to record any necessary fair valueadjustment for the portfolio of trading securities. (If noentry is required for a transaction/event, select "No journal entryrequired" in the first account field. Do not round yourintermediate calculations.)
