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Larkspur Company has the following portfolio of investment securities at September 30, 2020, its most recent reporting date. Investment Securities Cost Fair Value Horton, Inc.

Larkspur Company has the following portfolio of investment securities at September 30, 2020, its most recent reporting date.

Investment Securities

Cost

Fair Value

Horton, Inc. common (5,180 shares) $212,380 $197,710
Monty, Inc. preferred (3,170 shares) 123,630 131,310
Oakwood Corp. common (980 shares) 164,640 163,690

On October 10, 2020, the Horton shares were sold at a price of $54 per share. In addition, 2,820 shares of Patriot common stock were acquired at $56 per share on November 2, 2020. The December 31, 2020, fair values were Monty $96,040, Patriot $129,060, and Oakwood $178,760. Prepare the journal entries to record the sale, purchase, and adjusting entries related to the equity 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 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

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