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Prepare all relevant journal entries related to Sarasota's investment in Martz for 2 0 2 3 and 2 0 2 4 , if you were

Prepare all relevant journal entries related to Sarasota's investment in Martz for 2023 and 2024, if you were told that Martz's
2023 statement of comprehensive income included a loss from discontinued operations of $21,000(net of tax)?(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. List all debit entries before credit entries.)
Account Titles and Explanation
Debit
Credit
2023:
(To record investment purchase)
(To record collection of dividend)
[
[
(To record investment income)
(To record amortization of fair value difference)
2024:
(To record investment income)
(To record amortization of fair value difference)
1
1On January 1,2023, Sarasota Corporation purchased 30% of the common shares of Martz Limited for $200,000. Martz shares are not
traded in an active market. The carrying amount of Martz's net assets was $540,000 on that date. Any excess of the purchase cost
over Sarasota's share of Martz's carrying amount is attributable to unrecorded intangibles with a 20-year life. During the year, Martz
earned net income and comprehensive income of $80,000 and paid dividends of $16,000. The investment in Martz had a fair value of
$205,000 at December 31,2023. During 2024, Martz incurred a net loss and comprehensive loss of $85,000 and paid no dividends. At
December 31,2024, the fair value of the investment was $144,000 and the recoverable amount was $153,000. Assume that Sarasota
follows IFRS.
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