Business, 06.05.2020 01:44 5001Je

Indigo Company has the following portfolio of investment securities at September 30, 2020, its most recent reporting date. Investment Securities Cost Fair Value Horton, Inc. common (5,430 shares) $233,490 $219,850 Monty, Inc. preferred (3,800 shares) 140,600 147,340 Oakwood Corp. common (930 shares) 153,450 152,520 On October 10, 2020, the Horton shares were sold at a price of $56 per share. In addition, 3,100 shares of Patriot common stock were acquired at $58 per share on November 2, 2020. The December 31, 2020, fair values were Monty $113,260, Patriot $147,730, and Oakwood $167,160. Prepare the journal entries to record the sale, purchase, and adjusting entries related to the equity securities in the last quarter of 2020. (Credit account titles are automatically indented when 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.)

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Indigo Company has the following portfolio of investment securities at September 30, 2020, its most...

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