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Here is Ivanhoe Company's portfolio of long-term stock investments at December 31, 2019, the end of its first year of operations. On December 31, the
Here is Ivanhoe Company's portfolio of long-term stock investments at December 31, 2019, the end of its first year of operations. On December 31, the total cost of the portfolio equaled the total fair value. Ivanhoe had the following transactions related to the securities during 2020. Jan. 20 Sold 1,380 shares of Batone Inc. common stock at $55 per share. 28 Purchased 430 shares of $10 par value common stock of P. Wahl Corporation at $74 per share. 30 Received a cash dividend of \$1.33 per share on Mendez Corporation common stock. Feb. 8 Received cash dividends of $0.40 per share on P. Tillman Corporation preferred stock. 18 Sold all 790 shares of P. Tillman preferred stock at \$37 per share. July 30 Received a cash dividend of \$1.10 per share on Mendez Corporation common stock. Sept. 6 Purchased an additional 650 shares of the $10 par value common stock of P. Wahl Corporation at $75 per share. Dec. 1 Received a cash dividend of \$1.40 per share on P. Wahl Corporation common stock. At December 31, 2020, the fair values of the securities were: Mendez Corporation common stock $72 per share P. Wahl Corporation common stock $73 per share Prepare journal entries to record the transactions. (Credit account titles are automatically indented when the amount is entered.Do not indent manually. Record journal entries in the order presented in the problem.) Attempts: 1 of 5 used
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