In the first year of operations, Star Company had the following transactions in trading securities.

On December 31, 2021 the fair market values were $35 for Ford, Inc. and $45 for Dodge, Inc.

Journalize the investment transactions and prepare the adjusting entry at Dec. 31.

June 1: Purchased for cash 600 shares of Ford, Inc. common stock at $24 per share

July 1: Purchased for cash 800 shares of Dodge Inc. common stock at $36 per share

Sept. 1: Received a $5 per share cash dividend from Dodge, Inc.

Nov 1: Sold 200 shares of Ford, Inc. common stock for cash at $30 per share

Dec 15: Received a $2 per share cash dividend on Ford, Inc. common stock.

Dec 31: Adjusting entry for unrealized gain or loss: (Fair values were $35 for Ford, Inc. and $45 for Dodge, Inc)