On August 1, Kingbird Finance Inc. buys 2,200 Datawave common shares for trading purposes for $83,600 cash. On October 15, Kingbird receives a cash dividend of $2.10 per share from Datawave. On December 1, Kingbird sells the shares for $88,000 cash.

Prepare the journal entry to record the purchase of the shares. (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
Aug. 1	No EntryGain on Fair Value Adjustment - FVTPLCashLoss on Sale of FVTPL InvestmentsInvestments at FVTPLInterest RevenueInvestment in AssociateInvestment Income or Loss
	Interest RevenueInvestment in AssociateInvestments at FVTPLInvestment Income or LossNo EntryLoss on Sale of FVTPL InvestmentsCashGain on Fair Value Adjustment - FVTPL
	(To record purchase of investment.)

Prepare the journal entry to record the receipt of the dividend. (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
Oct. 15	CashInvestment Income or LossInterest RevenueInvestments at FVTPLLoss on Sale of FVTPL InvestmentsNo EntryGain on Fair Value Adjustment - FVTPLInvestment in Associate
	Gain on Fair Value Adjustment - FVTPLInvestment in AssociateNo EntryCashLoss on Sale of FVTPL InvestmentsInvestment Income or LossInterest RevenueInvestments at FVTPL
	(Collection of dividend.)

Prepare the journal entry to record the sale of the shares. (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. 1	Investment in AssociateGain on Fair Value Adjustment - FVTPLLoss on Sale of FVTPL InvestmentsInvestments at FVTPLInterest RevenueCashInvestment Income or LossNo Entry
	Gain on Fair Value Adjustment - FVTPLInvestment Income or LossCashLoss on Sale of FVTPL InvestmentsInvestment in AssociateInterest RevenueNo EntryInvestments at FVTPL
	CashNo EntryLoss on Sale of FVTPL InvestmentsInvestment in AssociateInvestments at FVTPLInvestment Income or LossGain on Fair Value Adjustment - FVTPLInterest Revenue
	(To record sale of investment.)