Pina Colada Ltd$.$ has a single investment that it accounts for using FV$-$OCI. The carrying value of the investment at the last reporting period was $$84,200.$ To date, $$2,120$ of unrealized gains on fair value adjustments have been recorded to other comprehensive income. The original cost of the investment is therefore $$82,080.$ On June $15,$ when the market value of the investment was $$84,670,$ Pina Colada sold the investment. Using the three$-$step approach, record the sale and reclassification $($recycling$)$ entry at June $15,$ assuming the investment is an equity investment and the company reclassifies gains or losses to Retained Earnings on disposition of the investment. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. I no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit

$($To adjust to fair value at date of disposal$)$

$($To record disposal$)$

$($To reclassify holding gain$)$