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Concord Corp. has the following securities (all purchased in 2020) in its investment portfolio on December 31, 2020: 2,670 Anderson Corp. common shares, which cost

Concord Corp. has the following securities (all purchased in 2020) in its investment portfolio on December 31, 2020: 2,670 Anderson Corp. common shares, which cost $49,250; 14,100 Munter Ltd. common shares, which cost $581,500; and 6,400 King Corp. preferred shares, which cost $256,400. Their fair values at the end of 2020 were as follows: Anderson Corp. $51,780; Munter Ltd. $570,000; and King Corp. $255,500. In 2021, Concord completed the following transactions:

1. On January 15, sold 2,670 Anderson common shares at $29 per share less fees of $2,890.
2. On April 17, purchased 1,490 Castle Ltd. common shares at $33.00 per share plus fees of $1,680.

The company adds transaction costs to the cost of acquired investments and deducts them from cash received on the sale of investments. On December 31, 2021, the fair values per share of the securities were as follows: Munter $54; King $17; and Castle $25. Concords accounting supervisor tells you that all these securities have fair values that can be readily determined, but the company is not likely to actively trade them. Management accounts for them using the FV-OCI method without recycling. Any gains or losses are reclassified to Retained Earnings upon disposition of the investment. Ignore income taxes.

Prepare the entry to record the Castle Ltd. share purchase on April 17, 2021.

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