Exerclse 1512 (Algo) Transactlons and falr value adjustments for stock Investments with Inslgnifcent Iniluence Le 4 Carisville Company began operatlons in the current year and had no prlor stock investments. The following transactlons are from its short-term stock investments with Inslgnificant influence. Prepare journal entrles to record these transactions. On December 31 , prepare the adjusting entry to record the fair value adjustment for the portfollo of stock investments. July 22 Purchased 1,380 shares of Hunt Corporation at $29 per share. septe ber 5 Received a \$2 cash dividend for each share uf Hult Corperation. septeiber 27 Rurchased 3,480 shares of HCA at $20 per share. October 3 sold 1,300 shares of lluit at $24 per share. Deceiber 17 Received a $3 cash dividend tor each share of Black \& Decker. Deckender 31 fair value of the shartateril stock investnents is $135,008. Journal entry worksheet Purchased 1,300 shares of Hunt Corporation at: 529 per share