Carlsville Company began operations in the current year and had no prior stock investments. The following transactions are from its short$-$term stock investments with insignificant influence. Prepare journal entries to record these transactions. On December $31,$ prepare the adjusting entry to record the fair value adjustment for the portfolio of stock investments.

July $22$ Purchased $1,400$ shares of Hunt Corporation at $$25$ per share.

September $5$ Received a $$2$ cash dividend for each share of Hunt Corporation.

September $27$ Purchased $3,200$ shares of HCA at $$22$ per share.

October $3$ Sold $1,400$ shares of Hunt at $$20$ per share.

October $30$ Purchased $1,000$ shares of Black & Decker at $$44$ per share.

December $17$ Received a $$3$ cash dividend for each share of Black & Decker.

December $31$ Fair value of the short$-$term stock investments is $$118,000=$

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

$7$

Purchased $1,400$ shares of Hunt Corporation at $$25$ per share.

Note: Enter debits before credits.