Problem 16-9A ta Investments Ltd. had the following short-term investments in marketable securities Sparta at fair value at December 31, 2013 310,000 180,000 285,000 $775,000 Sparta Investments Ltd. had the following investment transactions during 2014: Alberta Energy Co. Finning Ltd. Canadian National Railway Total short-term investments 2014 lan. 5 Purchased 5,000 shares (2 percent) of HHN Ltd. as a short-term investment. The shares were purchased at $51.00 and the commission was $500 HHN Ltd. reported net income of $7,000,000 and declared a cash dividend of $2,100,000. Received $42,000 from HHN Ltd. as a cash dividend. Purchased $400,000 (face value) of bonds at 99 as a long-term invest- ment. The bonds pay 5 percent interest (2.5 percent semiannually) on October 1 and April 1. Sparta Investments Ltd. plans to hold the bonds until maturity in two years. The company chooses to use the straight- line method to amortize the discount. Received a 10-percent stock dividend from HHN Ltd. Received the interest on the bonds. HHN Ltd. declared and distributed a 2-for-1 stock split. Sold 4,000 shares of HHN Ltd. for $28.00 per share and the commission was $1,500. 31 Feb. Apr. 15 1 Aug. Oct. Nov. Dec. 31 1 1 15 31 Recorded the adjustment for accrued interest on the bonds. 31 The fair values of the investments were Alberta Energy Co Finning Ltd. Canadian National Railway HHN Ltd Total short-term investments $ 280,000 187,000 290,000 288,000 $1,045,000 Required Prepare the general journal entries required to record the ransactions of 2014