Problem 16-05A a-d (Part Level Submission) The following securities are in Carla Vista Companys portfolio of long-term securities at December 31, 2020.

Cost

1,000 shares of Willhite Corporation common stock $50,000

1,300 shares of Hutcherson Corporation common stock 74,100

1,000 shares of Downing Corporation preferred stock 28,000

On December 31, 2020, the total cost of the portfolio equaled total fair value. Carla Vista had the following transactions related to the securities during 2021.

Jan. 20 Sold all 1,000 shares of Willhite Corporation common stock at $53 per share.

28 Purchased 420 shares of $69 par value common stock of Liggett Corporation at $77 per share.

30 Received a cash dividend of $1.30 per share on Hutcherson Corp. common stock.

Feb. 8 Received cash dividends of $0.70 per share on Downing Corp. preferred stock.

18 Sold all 1,000 shares of Downing Corp. preferred stock at $27 per share.

July 30 Received a cash dividend of $1.00 per share on Hutcherson Corp. common stock.

Sept. 6 Purchased an additional 950 shares of $15 par value common stock of Liggett Corporation at $81 per share.

Dec. 1 Received a cash dividend of $1.40 per share on Liggett Corporation common stock.

At December 31, 2021, the fair values of the securities were:

Hutcherson Corporation common stock $61 per share Liggett Corporation common stock $71 per share

Liggett Corporation common stock $71 per share

(a) Prepare journal entries to record the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 20 Cash 53,000 Debt Investments 50,000 Gain on sale of Stock Investments 3,000 Jan. 28 Stock Investments 28.90 Cash 28,960 Jan. 30 Cash Dividend Revenue Feb. 8 Cash Dividend Revenue Feb. 18 Cash Loss on sale of Stock Investments Stock Investments July 30 Cash Dividend Revenue Sept. 6 Stock Investments Cash Dec. 1 Cash Dividend Revenue