Exercise 15-1 Non-strategic Investments 9L03 CHECK FIGURE Dec 31, 2020 fair value adjustment to profit = $7770 Prepare entries to record the following non-strategic Investment transactions of Arrowhead Investment Corporation. Pa 101 Mar 2020 1 Paid $69.980 to purchase a $69,000, twoyear, 8% bond payable of Action Corporation dated March 1. Interest is paid quarterly beginning June 1. Management intends to actively trade bond purchases. Apr 16 Bought 2.450 common shares of Brandon Motors at $30.00 May 2. Paid 547.968 to purchase a five year, 5.5%.549,000 bond payable of Collingwood Corporation. Interest is paid annually each April 30, June Received a cheque from Action Corporation regarding quarterly interest. Aug 1 Brandon Motors' board of directors declared a dividend of $0.75 per share to sharcholders of record on August 10, payable August 15 15 Received the Brandon Motors dividend. Sept. 1 Received a cheque from Action Corporation regarding quarterly Interest. 17 Purchased 25,900 Dauphin Inc. common shares at $3.20 20 Sold the Brandon Motors shares at $31.90 Dec 1 Received a cheque from Action Corporation regarding quarterly interest 1 Sold the Action Corporation bond at 101. 31 Accrued interest on the Collingwood bond. The fair value of the equity security on this date was Daupain, $3.50. The carrying value equalled the fair value for the Collingwood bond. 2021 Apr 30 Received a cheque from Collingwood Corporation regarding annual interest Oct