On 1 July 2022, Bear Ltd acquired 100 000 shares in Island Ltd at a price of $10 each. There were brokerage fees of $1500. The closing market price of Island Ltd shares on 30 June 2023 which is the entity's financial year end-was $12. Bear Ltd has not made the election to account for its equity investments at fair value through OCI. REQUIRED Provide the required accounting journal entries for Bear Ltd to account for the investment in Island Ltd using fair value through profit or loss.

On 1 July 2022, Bear Ltd acquired 100000 shares in Island Ltd at a price of $10 each. There were brokerage fees of $1500. The closing market price of Island Ltd shares on 30 June 2023 - which is the entity's financial year end-was $12. Bear Ltd has not made the election to account for its equity investments at fair value through OCl. REQUIRED Provide the required accounting journal entries for Bear Ltd to account for the investment in Island Ltd using fair value through profit or loss