Answer B only

Ken-Lake Corporation has invested in the following securities, all purchased on August 1. Security Classification Purchase Price Common stock, Ven Corp. Fair value through net income $100,000 Bonds, Ven Corp. Trading securities 45,000 Bonds, Ven Corp. Available for sale securities 38,000 For the month ended August 31, you learn the following: Ven Corp. common stock, fair value is = $98,000 Ven Corp. common stock, dividend received (not previously recognized) = $750 Ven Corp. bonds fair value is now 105% higher than Ken-Lake's purchase price. Accrued interest for the month of August is: Trading securities = $150 (in total) Available for sale = $127 (in total) Required: a. Prepare journal entries necessary based on the above facts (and only those facts). b. Do you have any investment advice for Ken-Lake? Just a sentence or two, no more. Credit Date Aug-01 Transaction Investment in common stock, Ven Corp. Investment in bond, Ven Corp., trading security Investment in bond, Ven Corp, available for sale Cash Debit 100000 83000 183000 Aug-31 750 Cash P&L, dividend income 750 277 Interest receivable, Ven Corp. Interest income, Ven Corp. 277 2000 P&L, loss on investment in common stock, Ven Corp. Investment in common stock, Ven Corp. 2000 2250 1900 Investment in bond, Ven Corp., trading Investment in bond, Ven Corp., available for sale P&L, gain in investment in bond, Ven Corp Ocl, gain in investment in bond Ven Corp 2250 1900