Serial Problem Business Solutions LO P1 While reviewing the March 31, 2020, balance sheet of Business Solutions, Santana Rey notes that the business has built a large cash balance of $68,083. Its most recent bank money market statement shows that the funds are earning an annualized return of 0.67%. S. Rey decides to make several investments with the desire to earn a higher return on the idle cash balance. Accordingly, in April 2020, Business Solutions makes the following investments in trading securities Apr. 16 Purchases Johnson & Johnson bonds for $9,100. Apr. 30 Purchase notes of Starbucks for $4,700. On June 30, 2020, the fair value of the Johnson & Johnson bonds is $13,200 and the Starbucks notes is $2,800 Required: 1. Prepare journal entries to record the April purchases of trading securities by Business Solutions, 2. On June 30, 2020, prepare the adjusting entry to record any necessary fair value adjustment to its portfolio of trading securities Complete this question by entering your answers in the tabs below. Required: Required 2 Prepare journal entries to record the April purchases of trading securities by Business Solutions. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record the April purchases of trading securities by Business Solutions. View transaction list Journal entry worksheet