The following selected transactions relate to investment activities of Ornamental Insulation Corporation. The company buys securities, not intending to profit from short-term differences in price and not necessarily to hold debt securities to maturity, but to have them available for sale when circumstances warrant Ornamental's fiscal year ends on December 31. No investments were held by Ornamental on December 31 2015 2016 Feb. 21 Acquired Distribution Transformers Corporation common shares costing $430,000 Mar. 18 Received cash dividends of $9,500 on the investment in Distribution Transformers common shares Sep. 1 Acquired $990,000 of American Instruments' 10% bonds at face value Oct. 20 Sold the Distribution Transformers shares for $470,000 Nov. 1 Purchased M&D Corporation common shares costing $1,550,000 Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are American Instruments bonds M&D Corporation shares 943,000 $1,613,000 (Hint: Interest must be accrued for the American Instruments bonds.) 2017 Jan. 20 Sold the M&D Corporation shares for $1,638,000 Mar. 1 Received semiannual interest of $49,500 on the investment in American Instruments bonds Aug. 12 Acquired Vast Communication common shares costing $680,000 Sept. 1 Received semiannual interest of $49,500 on the investment in American Instruments bonds Dec. 31 Recorded any necessary adjusting entry(s) relating to the investments. The market prices of the investments are Vast Communication shares American Instruments bonds $700,000 $923,000 Required 1. Prepare the appropriate journal entry for each transaction or event during 2016. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet Deblt Credit 1 Record the acquisition of Distribution Transformers Corporation shares costing $430,000 Record the receipt of cash dividends of $9,500 on the investment in Distribution Transformers common 2 shares 3 Record the acquisition of American Instrument's 10% bonds at face value Record the sale of Distribution Transformers shares for $470,000 4