Horizon Bancorp Inc. purchased a portfolio of trading securities during 2009. The cost and fair value of this portfolio on December 31, 2009, was as follows:

On April 3, 2010, Horizon Bancorp Inc. purchased 500 shares of Cable, Inc., at $30 per share plus a $100 brokerage fee. On December 31, 2010, the trading security portfolio had the following cost and fair value:

Provide the journal entries to record the following:(a) The adjustment of the trading security portfolio to fair value on December 31, 2009.(b) The April 3, 2010, purchase of Cable, Inc.,stock.

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Number of Shares Total Cost Total Fair Value Name Apex, Inc. Evans Company Poole Company Total 1,200 $15,000 21,500 $16,000 23,000 700 300 9,000 $48,000 9,200 $45,700