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Hi this was attempted but the red is incorrect please assist. Additional Problem 2 Your answer is partially correct. Try again. Bonita Ltd. is a

Hi this was attempted but the red is incorrect please assist. image text in transcribed
Additional Problem 2 Your answer is partially correct. Try again. Bonita Ltd. is a Canadian publicly-traded business with a December 31 fiscal year end. In order to get a better return on some of its excess cash, Bonita purchased 110 common shares of AFS Corporation on July 1, 2017 at a price of $4.00 per share. On the day of acquisition, Bonita elected to account for the investment using the fair-value through other comprehensive income (FV-OCI) without recycling model. On August 1, 2017, AFS declared dividends of $1.20/share, and paid those dividends on August 20, 2017. On December 31, 2017, shares in AFS were trading at $7.90 per share. On September 15, 2018, Bonita sold the shares in AFS for $8.90 per share. Prepare the journal entries required to record the above transactions on the books of Bonita Ltd. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Round answers to 0 decimal places,e.g 5,275. Date Debi Crede July 1, 2017 Cash 132 Dec. 31, 2017 42 Sept. 15, 2018 979 Gain or Loss-OC To adjust to current tair value To record the sale of shares Income (OCI) without recycling: FV-OC Investments Gain on Sale of Investments

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