On May 20, Montero Co. paid $270,000 to acquire 130 shares (10%) of ORD Corp, as a long-term investment. On August 5, Montero sold one-tenth of the ORD shares for $28,000. 1. Prepare entries to record both the acquisition and the sale of these shares 2. Should this stock investment be reported at fair value or at cost on the balance sheet? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare entries to record both the acquisition and the sale of these shares. View transaction list Journal entry worksheet 1 2 On May 20, Montero Co. paid $270,000 to acquire 130 shares (10%) of ORD Corp. as a long-term investment. Note: Enter debits before credits Debit General Journal Date Credit May 20 Journal entry worksheet