prepare journal entry

Marest whole dollar amount.) teld. Do not round intermediate 15 2020 Mar. 1 Paid $68,980 to purchase a $68,000, two-year, 7.5% bond payable of Action Corporation dated March 1. Interest is paid quarterly beginning June 1. Management intends to actively trade bond purchases. Apr. 16 Bought 2,409 common shares of Brandon Motors at $29.50. May 2 Paid $46,968 to purchase a five-year, 5.00%, $48,000 bond payable of Collingwood Corporation. Interest is paid annually each April 30. June 1 Received a cheque from Action Corporation regarding quarterly interest. Aug. 1 Brandon Motors' board of directors declared a dividend of $0.75 per share to shareholders of record on August 10, payable August 15. 15 Received the Brandon Motors dividend. Sept. 1 Received a cheque from Action Corporation regarding quarterly interest. 17 Purchased 25,800 Dauphin Inc. common shares at 54.00. Oct. 20 Sold the Brandon Motors shares at $31.80. 1 Received a cheque fron Action Corporation regarding quarterly Interest. 1 Sold the Action Corporation bond at 101. 31 Accrued interest on the Collingwood bond. The fair value of the equity security on this date was Dauphin, 54.30. The carrying value equalled the fair value for the Collingwood bond. 2021 Apr. 30 Received a cheque from Collingwood Corporation regarding annual interest. Dec