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Early in its 2020 fiscal year (December 31 year end), Monty Company purchased 9,800 shares of Kenyon Corporation common shares for $26.18 per share, plus $1,800 in brokerage commissions. These securities were accounted for at FV-OCI (with no recycling), and transaction costs were capitalized. In September, Kenyon declared and paid a dividend of $1.02 per share, and on December 31, 2020, the fair value of these shares was $266,070. On April 13, 2021, Monty sold all the Kenyon shares at a price of $28.10 each, incurring $1,925 in brokerage commissions on the sale.

Prepare the entry to record the purchase of the Kenyon shares. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

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List of Accounts

Prepare the entry to record the receipt of the dividend. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

Prepare the entry to record the fair value adjustment at December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

eTextbook and Media

List of Accounts

Prepare all entries associated with the disposal of the investment on April 13, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
enter an account title to adjust to fair value at date of disposal	enter a debit amount	enter a credit amount
enter an account title to adjust to fair value at date of disposal	enter a debit amount	enter a credit amount
(To adjust to fair value at date of disposal)
enter an account title to record disposal	enter a debit amount	enter a credit amount
enter an account title to record disposal	enter a debit amount	enter a credit amount
(To record disposal)
enter an account title to reclassify holding gain	enter a debit amount	enter a credit amount
enter an account title to reclassify holding gain	enter a debit amount	enter a credit amount
(To reclassify holding gain)

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