DuPont Company has the following securities in its trading portfolio on December 31,2019. All securities are purchased beginning 2019:

Description Cost Fair Value Revere Group Corporation commonstock:15,000share 389,250 517,500

Lopes company common stock: 200,000 shares 2,700,000 1,500,000

Portfolio Totals $ 3,089,250 $ 2,017,500 DuPont acquired and sold securities from this portfolio during 2020. Specifically, on June 3, the company sold 7,500 shares of Revere Group Corporation stock for $32 per share. On November 9, DuPont acquired 4,000 shares of Belton Brothers common stock for $ 85 per share. The DuPont Company portfolio of trading equity securities at December 31, 2020 is presented below.

Description Fair Value Revere Group Corporation common stock: 7,500 shares $ 258,750

Lopes company common stock: 200,000 shares 1,500,000 Belton Brothers common stock: 4,000 shares 486,000 Portfolio Totals $ 2,244,750

Instruction : 1. Prepare the journal entry to record the acquisition of the investment at beginning 2019. 2. Prepare the journal entry to adjust the portfolio to fair value at December 31, 2019. 3. Prepare the journal entry to record the sale of the Dot Corporation common shares. 4. Prepare the journal entry to record the acquisition of the Belton Brothers common stock. 5. Prepare the journal entry to adjust the portfolio to fair value at December 31, 2020.