At the beginning of 2019, Able Company had the following portfolio of investments in trading securities (all of which were acquired at par value):

Security	Cost	1/1/2019 Fair Value
A	$20,000	$25,000
B	30,000	29,000
Totals	$50,000	$54,000

 

During 2019, the following transactions occurred:

May 3	Purchased C debt securities at their par value for $50,000.
July 1	Sold all of the A securities for $27,000 plus interest of $1,000.
Dec. 31	Received interest of $7,600 on the B and C securities. Additionally the following information was available:

 

	12/31/2019
Security	Fair Value
B	$29,000
C	52,500

 

Required:

1.	Prepare journal entries to record the preceding information.