what are the journal entries relating toGivemgreef'sinvestment in Nelson during the years 2021-2023 with explanations

Prior to 2021, TheGivemgreefCompany's investments were limited to short-term U.S. government securities.On January 2, 2021,Givemgreefbought a 25% interest in the Nelson Corporation for $820,000.

On October 1, 2021, Nelson paid atotaldividend of $60,000 toallits shareholders.

At December 31, 2021, the market value ofGivemgreef'sinvestment in Nelson was $860,000.Nelson's net income for 2021 was $220,000.

During 2022, Nelson had significant business reversals, and its net loss for the year was $1,000,000.The total market value of all of Nelson's stock at December 31, 2022 was $2,800,000.

On March 1, 2023, when Nelson's net income for the first two months of the year was $40,000,Givemgreefsold its investment in Nelson for $590,000.