Journal entries to apply the market value method for long-term investments in securities. The following information summarizes data about the minority, passive investments in securities of Randle Company for its first two years of operations.

Prepare journal entries to account for the.se investments in securities during Year 1 and Year 2 using the market value method.(Appendix)

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Security Date Acquired Acquisition Cost Date Sold Selling Dec. 31, Price Year 1 Market Value Dec. 31, Year 2 M N. 0 4/10/Year 1 7/11/Year 1 9/29/Year 1 $ 37,000 31,000 94,000 $162,000 10/15/Year 21 $43,000 $ 35,000 38,000 45,000 87,000 $160,000 89,000 $134,000 Randle Company received dividends on December 31 of each year as follows: Security M N Year 1 Year 2 $1.500 1,400 $1,600 5,000 4,000