Promo Corporation has the following investment portfolio at December 31, 2020.

The company follows IFRS and chooses not to report separately the different incomes from their investments accounted for using FVNI.

Required:

Prepare all of the required journal entries using the recommendations you have provided above for the investment in ICCO shares for the year 2020. Round all values to nearest dollar. Identify your entries with a date.

	Acctg treatment	Transactions	Fair value @ Dec 31, 2020
Shares in ICCO Inc.	Enterprise intends to sell the investment with the expectation of a profit FV-NI	Purchased 1,500 shares on Mar 31 for $1,500,000. Purchased 50 shares for $60,000. on June 1. Dividends of $50/share were received on July 18. Sold 10 shares on Sept 1 for $1,300/share.	$1,650,000