BonitaLtd. is a Canadian publicly-traded business with a December 31 fiscal year end. In order to get a better return on some of its excess cash,Bonitapurchased220common shares of AFS Corporation on July 1, 2020 at a price of $6per share. On the day of acquisition,Bonitaelected to account for the investment using the fair-value through other comprehensive income (FV-OCI) without recycling. On August 1, 2020, AFS declared dividends of $1/share, and paid those dividends on August 20, 2020. On December 31, 2020, shares in AFS were trading at $8per share. On September 15, 2021,Bonitasold the shares in AFS for $9per share.

Prepare the journal entries required to record the above transactions on the books ofBonitaLtd.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

July 1, 2020

August 1, 2020

August 20, 2020

December 31, 2020

September 15, 2021

July 1, 2020

August 1, 2020

August 20, 2020

December 31, 2020

September 15, 2021

July 1, 2020

August 1, 2020

August 20, 2020

December 31, 2020

September 15, 2021

July 1, 2020

August 1, 2020

August 20, 2020

December 31, 2020

September 15, 2021

July 1, 2020

August 1, 2020

August 20, 2020

December 31, 2020

September 15, 2021

(To adjust to fair value on date of disposition)

(To record disposal)

(To reclassify holding gain)