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Carlsville Company, which began operations in 2015, invests its idle cash in trading securities. The following transactions are from its short-term investments in trading securities.

2015
Jan.	20		Purchased 800 shares of Ford Motor Co. at $26 per share plus a $125 commission.
Feb.	9		Purchased 2,200 shares of Lucent at $44.25 per share plus a $578 commission.
Oct.	12		Purchased 750 shares of Z-Seven at $7.50 per share plus a $200 commission.
Dec.	31		Fair value of the short-term investments in trading securities is $130,000.

2016
Apr.	15		Sold 800 shares of Ford Motor Co. at $29 per share less a $285 commission.
July	5		Sold 750 shares of Z-Seven at $10.25 per share less a $102.50 commission.
July	22		Purchased 1,600 shares of Hunt Corp. at $30 per share plus a $444 commission.
Aug.	19		Purchased 1,800 shares of Donna Karan at $18.25 per share plus a $290 commission.
Dec.	31		Fair value of the short-term investments in trading securities is $160,000.

2017
Feb.	27		Purchased 3,400 shares of HCA at $34 per share plus a $420 commission.
Mar.	3		Sold 1,600 shares of Hunt at $25 per share less a $250 commission.
June	21		Sold 2,200 shares of Lucent at $42 per share less a $420 commission.
June	30		Purchased 1,200 shares of Black & Decker at $47.50 per share plus a $595 commission.
Nov.	1		Sold 1,800 shares of Donna Karan at $18.25 per share less a $309 commission.
Dec.	31		Fair value of the short-term investments in trading securities is $180,000.

Required:

1.

Prepare journal entries to record these short-term investment activities for the years shown. On December 31 of each year, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities.(If no entry is required select No journal entry required in the first entry field. Do not round your intermediate calculations.)

1a. Jan 20 - Purchased 800 shares of Ford Motor Co. at $26 per share plus a $125 commission. 1b. Feb 09 - Purchased 2,200 shares of Lucent at $44.25 per share plus a $578 commission. 1c. Oct 12 - Purchased 750 shares of Z-Seven at $7.50 per share plus a $200 commission. 1d. Dec 31 - Record the unrealized gain or loss on short term investment. 1e. Apr 15 - Sold 800 shares of Ford Motor Co. at $29 per share less a $285 commission. 1f. Jul 05 - Sold 750 shares of Z-Seven at $10.25 per share less a $102.50 commission. 1g. Jul 22 - Purchased 1,600 shares of Hunt Corp. at $30 per share plus a $444 commission. 1h. Aug 19 - Purchased 1,800 shares of Donna Karan at $18.25 per share plus a $290 commission. 1i. Dec 31 - Record the unrealized gain or loss on short term investment. 1j. Feb 27 - Purchased 3,400 shares of HCA at $34 per share plus a $420 commission. 1k. Mar 03 - Sold 1,600 shares of Hunt at $25 per share less a $250 commission. 1l. Jun 21 - Sold 2,200 shares of Lucent at $42 per share less a $420 commission. 1m. Jun 30 - Purchased 1,200 shares of Black & Decker at $47.50 per share plus a $595 commission. 1n. Nov 01 - Sold 1,800 shares of Donna Karan at $18.25 per share less a $309 commission. 1o. Dec 31 - Record the unrealized gain or loss on short term investment.

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