Golden Farms i a grower of hybrid seed com for Ortiz Genetics Corporation

COLLABORATIVE LEARNING SET B Golden Farms is a grower of hybrid seed corn for Ortiz Genetics Corporation. It has had two exceptionally good years and has elected to invest its excess funds in bonds and equity. The following selected transactions relate to bonds and equity acquired as an investment by Golden Farms, whose fiscal year ends on December 31. 2019 1 March Purchased 400, $1,000 Daytona Beach 5% bonds $410,000. The investment was classified as Trading. 30 April Purchased 600 shares of the 100,000 shares outstanding $10 par common shares of Dankin Corporation for $5,100. The investment was classified as Trading 1 June Purchased 3,500 shares of the 100,000 shares no par common shares of Ramon Co. for $52,500. The investment was classified as Trading 1 Sept Received the first semiannual interest for bonds 1 Nov Received a cash dividend of $1 per share on the Dankin Corporation stock 1 Dec Received a cash dividend of $2 per share on the Ramon Co. stock 31 Dec Accrued Interest Revenue for bonds 31 Dec Market Price of Daytona Beach at 101, Dankin Share $9/share, and Ramon Corporation $13/share Net income reported by Dankin: $150.000, by Ramon $800.000 and by Daytona $1.000.000.. 2020 1 Mar Received interest revenue from Daytona 1 Mar Sold $200,000 of the bonds at 101. 1 Sept Received the semiannual interest for bonds 1 Nov Sold 200 shares of the Ramon Corporation shares for $3.000 31 Dec Accrued Interest Revenue for bonds 31 Dec Market Price of Daytona Beach $99, Dankin Share $10/share, and Ramon Corporation $15/share Net income reported by Dankin: $170.000, by Ramon $950.000 and by Daytona $1. 150.000. Instruction: a. Journalize the entries to record transaction above b. Prepare partial financial position for investment account for Dec 31, 2020