On October 10 2012 the Horton shares were sold at a price of $54 per share. In a

On October 10 2012 the Horton shares were sold at a price of $54 per share. In addition 3000 shares of Patriot common stock were acquired at $54.50 per share on November 2 2012. The December 31 2012 fair values were: Monty $106000 Patriot $132000 and the Oakwood common $193000. All the securities are classified as trading.Instructions(a) Prepare the journal entries to record the sale purchase and adjusting entries related to the trading securities in the last quarter of 2012.(b) How would the entries in part (a) change if the securities were classified asavailable-for-sale?