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IndigoCompany has the following portfolio of investment securities at September 30, 2020, its last reporting date. Trading Securities Cost Fair Value Perry, Inc. common
IndigoCompany has the following portfolio of investment securities at September 30, 2020, its last reporting date. Trading Securities Cost Fair Value Perry, Inc. common (14,000 shares) $448,000 $430,600 Platter, Inc. common (5,600 shares) 207,200 211,100 Pokey Corp. preferred (900 shares) 79.200 73,900 On November 5, 2020, the Platter shares were sold at a price of $39 per share. In addition, 7,700 shares of Patriot common stock were acquired at $34 per share on November 26, 2020. The December 31, 2020, fair values were Perry $427,100, Pokey $75,300, and Patriot common $267,000. All the securities are classified as trading. (a) Prepare the journal entries to record the sale, purchase, and adjusting entries related to the trading securities in the last quarter of 2020. (Credit account titles are automatically indented when 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.) Date Account Titles and Explanation Debit Credit
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