Some of the account balances of Blossom Limited at December 31, 2022, are as follows: The price of the company's common shares has been increasing steadily on the market; it was $19 on January 1, 2023, and advanced to $22 by July 1 and to $25 at the end of 2023 . The preferred shares are not openly traded but were appraised at $118 per share during 2023. Blossom follows IFRS and had net income of $144,000 during 2023 . For the purpose of this question, ignore any dividend entitlement to the preferred shareholders. (a1) The company declared a property dividend on April 1. Each common shareholder was to receive one share of Crane Corp. for every 8 shares outstanding. Blossom had 7,500 shares of Crane ( 2% of the outstanding shares), which it had purchased in 2018 for $67,575. The shares are accounted for using the FVOCI model. The accumulated other comprehensive income relates only to these shares. The fair value of the Crane shares was \$14 per share on April 1. The property dividend was distributed on April 21 when the fair value of the Crane shares was $17.50. The Crane shares remained at a fair value of $17.50 until year end. Prepare the journal entries. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, e.g. 5,275. Do not round intermediate calculations. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit Apr. 1 (To record fair value adjustment) Apr. 21 (To record declaration of property dividend) Apr. 21 (To reclassify holding gain)