Prepare Bridgeport's journal entry to record the purchase of the investment. $($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 $0$ for the amounts.

List debit entry before credit entry.$)$

Account Titles and Explanation

Debit

Credit

eTextbook and Media

List of Accounts

Prepare Bridgeport's journal entry to record the dividends received. $($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 $0$ for the amounts. List

debit entry before credit entry.$)$

Account Titles and Explanation

Credit

eTextbook and Media

List of Accounts

Prepare Bridgeport's journal entry to record the fair value adjustment. $($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 $0$ for the amounts. List

debit entry before credit entry.$)$

Account Titles and Explanation

Debit

CreditBridgeport Corporation purchased $300$ common shares of Burke Inc. for $$23,520$ and accounted for them using FV$-$OCI. During the year, Burke paid a cash dividend of $$3\mathrm{.}55$ per share. At year end, Burke shares had a fair value of $$74\mathrm{.}60$ per share.