During 2019, Winemall Ltd. (WL), a public company, made investments in three other corporations. At December 31, 2019, the investments had the following carrying and fair values: Carrying value Fair value Futon Inc., 2,000 common shares $25,000 $19,000 Chaisse Co., $70,000 face value 10-year bonds, 5% annual interest (yielding 5.5% at purchase) $67,362 $66,090 Ottoman Ltd., 5,000 common shares $98,750 $99,500 The Ottoman Ltd. shares are held for trading, and the Chaisse Co. bonds are expected to be held to maturity. WL elected to record the Futon Inc. shares as fair value through other comprehensive income (FVOCI) when they were purchased in 2019. WL also elected to transfer any cumulative gains or losses from accumulated other comprehensive income to retained earnings on derecognition of FVOCI investments. On June 30, 2020, WL sold the Futon Inc. shares for $26,500. At December 31, 2020, WL received $5,000 of dividends from Ottoman Ltd. and $3,500 of interest from the Chaisse Co. bonds. The fair values of the Chaisse Co. bonds and the Ottoman Ltd. shares at December 31, 2020, were as follows: Fair value Chaisse Co., $70,000 face value 10-year bonds $ 70,500 Ottoman Ltd., 5,000 common shares $101,250 Required:

Prepare all journal entries necessary for fair value changes as at December 31, 2019.