On January 31, 2018, Leslie Corporation purchased the following shares of voting common stock as long-term investments. None of these holdings amounted to more than 5% of the respective company's outstanding voting shares. The accounting period ends December 31.

All of the Bailey Corporation stock was sold for $13,500 on January 12, 2020.

Prepare the required journal entries at the following dates:

January 31, 2018

December 31, 2018

December 31, 2019

January 12, 2020.

Note: If using an unrealized gain/loss account, indicate whether the account will appear on the income statement (IS) or on the Other Comprehensive Income (OCI) section of equity in the balance sheet.

Market Dec. 31, 2018 Market Dec. 31, 2019 Stock Cost Orange Corporation $15,000 Bailey Corporation $13,000 $12,000 $14,000 $12,000 $13,000