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On 30 June 20x2, King Ltd. purchased 49.000 shares of Prince Inc. for $68,600 plus $4.900 in commission in 20x2. the company received a $2.450 of dividends, and the shares had a fair value of $88,200 at the end of the year. In 20x3, there were no dividends and the shares were sold for $117.600 less a $1,960 commission Return to question 1. Prepare journal entries for 20x2 and 20x3: (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) a. Assuming King reports under ASPE and has chosen the cost method Answer is not complete. Credit No 1 Transaction 20X2 General Journal Investment in securities: Prince Ltd Cash Debit 73 500 OO 73,500 2 20x2 lo 1960 Cash Dividend income 1960 20x3 Cash Investment in securities Prince Ltd Investment revenue Gain on sale BOB b. Assuming King reports under IFRS and classified the investment as fair-value-through-profit or loss. No Transaction 20X2 Answer is not complete. General Journal Investment in FVTPL securities: Prince Ltd Commission expense Debit Credhe 1 2 20X2 Cash Dividend income 20x2 Investment in FVTPL securities Prince Ltd Investment revenue Holding gain 20X3 Cash Investment in FVTPL securities. Prince Ltd Investment revenue Holding gain SO