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Please provide detail solutions. Windsor Ltd. is a Canadian publicly-traded business with a December 31 fiscal year end. In order to get a better return
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Windsor Ltd. is a Canadian publicly-traded business with a December 31 fiscal year end. In order to get a better return on some of its excess cash, Windsor purchased 210 common shares of AFS Corporation on July 1, 2017 at a price of $5.83 per share. On the day of acquisition, Windsor elected to account for the investment using the fair-value through other comprehensive income (FV-oCI) without recycling model. On August 1, 2017, AFS dedlared dividends of $1.80/share, and paid those dividends on August 20, 2017. On December 31, 2017, shares in AFS were trading at $6.50 per share. On September 15, 2018, Windsor sold the shares in AFS for $7.50 per share. Prepare the journal entries required to record the above transactions on the books of Windsor Ltd. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.Round answers to o decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit To adjust to crrent fair value.) (To record the sale of shares.) Fair Value-Other Comprehensive Income (OCI) without recycling: Question Attempts: 0 of 15 usedStep by Step Solution
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