oS 15-10 Recording long-term equity securities LO P3 12 On May 20, 2017, Montero Co. paid $1,030,000 to acquire 28,000 common shares (10%) of ORD Corp. as a long-term investment. On August B. 2018, Montero sold one-half of these shares for $631,000. 1. What valuation method should be used to account for this stock investment? points Equity method Fair value method 2. Prepare entries to record both the acquisition and the sale of these shares. View transaction list Journal entry worksheet On May 20, 2017, Montero Co. paid $1,030,000 to acquire 28,000 common shares (10%) of ORD Corp. as a long-term investment. Note: Enter debits before credits. Debit May 20, 2017 1. What valuation method should be used to account for this stock investment? Equity method Fair value method 2. Prepare entries to record both the acquisition and the sale of these shares View transaction list Journal entry worksheet On August 5, 2018, Montero sold one-half of these shares for $631,000. Note: Enter debits before credits Debit Aug 05, 2018 Record entry Clear entry View general journal