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ABC Company engaged in the following investment transactions during 2020 and 2021. 2020 Jan. 5 Purchased 15% of Quantas Corp. stock (15,000 shares) for $900,000.

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ABC Company engaged in the following investment transactions during 2020 and 2021. 2020 Jan. 5 Purchased 15% of Quantas Corp. stock (15,000 shares) for $900,000. April 1 Purchased 10% Bonds of Alpha Corporation bonds costing $600,000 at face value. These bonds are classified as available-for-sale. I Sold half of its investment in Quantas stock for $460,000. May 30 Sep 30 Received semiannual interest on Alpha Corporation Bonds. Nov. 10 Dec.31 Received dividend of $2 per share on remaining Quantus shares. Recorded any necessary adjusting entry(s) related to the above investments. Fair value of Quantas shares were $56 per share and the fair value of the Alpha Corp. bonds were $610,000. Sold the Alpha Corp. bonds for $585,000. 2021 Jan 5 Required: Prepare all journal entries related to the above investments for 2020 and 2021

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