Marsland Inc. completed these long-term investment transactions during 2020. Disregard commissions.

Jan. 14 Purchased 1,000 shares of Crew Ltd., paying $41.00 per share.

Aug. 22 Received a cash dividend of $3.28 per share on the Crew Ltd. shares.

Dec. 31 Adjusted the Crew Ltd. investment to its current fair value of $50,750.

1. Journalize Marsland’s investment transactions. Explanations are not required.

Marsland Inc. exerts no significant influence on Crew Ltd. and intends to hold the investment indefinitely.

2. What value is reported for the investment on Marsland’s balance sheet at December 31, 2020?