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On 1 November 208, Porter Company acquired the following FVTPL Investments: - Minto Corp. 3,700 common shares at $15 cash per share - Pugwash Corp.
On 1 November 208, Porter Company acquired the following FVTPL Investments: - Minto Corp. 3,700 common shares at $15 cash per share - Pugwash Corp. 850 preferred shares at $25 cash per share The annual reporting perlod ends 31 December. Quoted falr values on 31 December 208 were as follows: - Minto Corporation common, $13 - Pugwash Corporation preferred, $28 The following information relates to 209 : Required: 1. Prepare the entry for Porter Company to record the purchase of the securitles. (If no entry is required for a transactlon/event, select "No journal entry required" In the first account fleld.) Journal entry worksheet Note: tnter cedits derore creaits
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