Sheffield Company has the following portfolio of investment securities at September 30, 2017, its last...
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Sheffield Company has the following portfolio of investment securities at September 30, 2017, its last reporting date. 
On October 10, 2017, the Horton shares were sold at a price of $55 per share. In addition, 2,840 shares of Patriot common stock were acquired at $56 per share on November 2, 2017. The December 31, 2017, fair values were Monty $95,720, Patriot $129,930, and the Oakwood $196,230. Prepare the journal entries to record the sale, purchase, and adjusting entries related to the equity securities in the last quarter of 2017.
Trading Securities Fair Value $207,680$192,760 131,880 182,500 Cost Horton, Inc. common (4,720 shares) Monty, Inc. preferred (3,210 shares) Oakwood Corp. common (1,080 shares) 125,190 183,600
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