Prepare the journal entries to record the following non-strategic investment transactions of Ace Investment Corporation that occurred during the year 2020.

April 16 Bought 3,000 common shares of Aby Motors Co. at $22.50 per share

August 1 The Board of Directors of Aby Motors Co. declared a dividend of $1.25 per common share to shareholders of record of August 10, payable on August 15

August 15 Received the Aby Motors Co. dividend

October 20` Sold the Aby Motors Co. shares at $27.00