On 1 November 20X8, Porter Company acquired the following FVTPL investments: Minto Corp-2.700 common shares at $10 cash per share Pugwash Corp.-650 preferred shares at $20 cash per share The annual reporting period ends 31 December. Quoted fair values on 31 December 20X8 were as follows: Minto Corporation common, $8 Pugwash Corporation preferred, $24 The following information relates to 20X9 2 March 1 October 31 December Received cash dividends per share as follows: Minto Corporation, $2.20; and Pugwash Corporation, $1.20. Sold 160 shares of Pugwash Corporation preferred at $26 per share. Fair values were as follows: Minto common, $16, and Pugwash preferred, $23. Required: 1. Prepare the entry for Porter Company to record the purchase of the securities. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)