On May 1, 2020, Clarke Inc. acquired 1,250 shares of Mayson Ltd. for $75,000. This investment represents a 16% interest in Mayson Ltd. Clarke Inc. has classified this investment as FVTOCI.

On December 31, 2020, Mayson Ltd. paid a $35,000 dividend to its shareholders. At April 30, 2021, Mayson Ltd.'s shares were valued at $30 per share and Mayson Ltd. reported a net loss of $27,000 for the year.

On June 15, 2021, Clarke Inc. sold the shares for $37,000. Both Clarke Inc. and Mayson Ltd. have April 30, 2021, year-ends.

Required: Prepare dated journal entries for the investment on the acquiring company's books from acquisition to disposal.

Ignore income taxes. Journal entry descriptions are optional.