Monty Corporation made the following cash purchases of securities during $2020,$ which is the first year in which Monty invested in

securities$.$

On January $15,$ purchased $9,200$ shares of Sanchez Company's common stock at $$33\mathrm{.}50$ per share plus commission $$1,824.$

On April $1,$ purchased $4,600$ shares of Vicario Co$.\text{'}$s common stock at $$52$ per share plus commission $$3,098.$

On September $10,$ purchased $6,440$ shares of WTA Co$.\text{'}$s preferred stock at $$26\mathrm{.}50$ per share plus commission $$4,516.$

On May $20,2020,$ Monty sold $3,588$ shares of Sanchez Company's common stock at a market price of $$35$ per share less brokerage

commissions, taxes, and fees of $$3,542.$ The year$-$end fair values per share were Sanchez $$30,$ Vicario $$55,$ and WTA $$28.$ In addition,

the chief accountant of Monty told you that the corporation plans to hold these securities for the long$-$term but may sell them in order

to earn profits from appreciation in prices. The equity method of accounting is not appropriate for these stock purchases.

Prepare the journal entry for the security sale on May $20.($Round answers to $0$ decimal places, e$.$g$.2,500.$ 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

May $20,$

$2020$

Cash

Equity Investments

Debit

Credit

Credit