Bridgeport Inc. owns shares of Indigo Corporation stock. At December 31, 2020, the securities were carried in Bridgeports accounting records at their cost of $1,030,000, which equals their fair value. On September 21, 2021, when the fair value of the securities was $1,397,000, Bridgeport declared a property dividend whereby the Indigo securities are to be distributed on October 23, 2021, to stockholders of record on October 8, 2021.

Prepare all journal entries necessary on those three dates.