Monty Corporation made the following purchases of investments during 2020, the first year in which Monty invested in equity securities:

1.		On January 15, purchased 7,920 shares of Nirmala Corp.s common shares at $29.50 per share plus commission of $1,743.
2.		On April 1, purchased 4,400 shares of Oxana Corp.s common shares at $46 per share plus commission of $2,966.
3.		On September 10, purchased 6,160 shares of WTA Corp.s preferred shares at $23.00 per share plus commission of $2,561.

On May 20, 2020, Monty sold 2,640 of the Nirmala common shares at a market price of $31 per share less brokerage commissions of $2,508. The year-end fair values per share were as follows: Nirmala $26, Oxana $48, and WTA $25. The chief accountant of Monty tells you that Monty Corporation holds these investments with the intention of selling them in order to earn short-term profits from appreciation in their prices and accounts for them using the FV-NI model. Assume that Monty Corporation follows IFRS 9.

Prepare the journal entries to record the three investments. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 15
Apr. 1
Sep. 10

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Prepare the journal entry for the sale of the 2,640 Nirmala shares on May 20. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
May 20

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Prepare the adjusting entry needed on December 31, 2020. (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 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31

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