Kirkland Company had no trading debt securitles prlor to this year. It had the following transactions this year Involving trading debt securlties. August 2 Purchased verizon bonds for $22,690. September 7 Purchased Apple bonds for $47,630. September 12 Purchased Mastercard bonds for $32,638. october 21 sold some of its verizon bonds that had cost $2,680 for $2,780 cash. october 23 sold some of its Apple bonds that had cost $27,630 for $27,460 cash. November 1 Purchased walmart bonds for $52,680. December 10 sold all of its Mastercard bonds for $30,680 cash. Required 1. Prepare journal entrles to record these transactions. 2. Prepare a table to compare the year-end cost and falr values of Its trading debt securlties. Year-end falr values: Verlzon, $20,500; Apple, $28,000; and Walmart, $45,000. 3. Prepare the adjusting entry to record the year-end falr value adjustment for the portfolio of trading debt securitles. Complete this question by entering your answers in the tabs below. Prepare journal entries to record these transactions. Journal entry worksheet IVULE: CIILEI DEUILS VEIUIE LIEUILS
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