Journal entries to apply the market value method for short-term investments in securities. Events related to Elston Corporation's investments of temporarily excess cash appear below. The firm classifies these investments as Securities Available for Sale.

Elston received no dividends on Security A. It received dividends from Security B of \(\$ 1,000\) on December 31, Year 4, and \(\$ 1,200\) on December 31, Year 5. Prepare dated journal entries for the events related to these investments, assuming that the accounting period is the calendar year.

a. Acquisition of securities

b. Receipt of dividends

c. Revaluation on December 31

d. Sale of securities

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Market Value on December 31 Date Acquisition Date Security Acquired Cost Year 4 Year 5 Sold Selling Price A 10/15/Year 4 $28,000 B..... 11/2/Year 4 49,000 $25,000 55,000 2/10/Year 5 $24,000 $53,000 7/15/Year 6 57,000