Whispering Winds Corp. has the following portfolio of securities acquired for trading purposes and accounted for using the FV-NI model at September 30, 2020, the end of the company's third quarter:

InvestmentCostFair Value53,500 common shares of Yuen Inc.$363,800$214,0004,400 preferred shares of Monty Ltd.167,200176,0001,950 common shares of Oakwood Inc.175,500174,525

On October 8, 2020, the Yuen shares were sold for $6.80 per share. On November 16, 2020, 3,000 common shares of Patriot Corp. were purchased at $45.00 per share. Whispering Winds pays a 1% commission on purchases and sales of all securities. At the end of the fourth quarter, on December 31, 2020, the fair values of the shares held were as follows: Monty $103,850; Patriot $119,750; and Oakwood $197,925. Whispering Winds prepares financial statements every quarter.

Prepare the journal entries to record the sale, purchase, and adjusting entries related to the portfolio for the fourth quarter of 2020.(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 0 for the amounts. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

Oct. 8

Nov. 16

Dec. 31

Nov. 16

Oct. 8

Nov. 16

Dec. 31

SHOW LIST OF ACCOUNTS

Indicate how and where the investments would be reported on the December 31, 2020 statement of financial position.

Whispering WindsCorp.

Statement of Financial Position (Partial)

For the Month Ended December 31, 2020

For the Year Ended December 31, 2020

As at December 31, 2020

Long-Term Investments

Stockholders' Equity

Current Liabilities

Current Assets

Property, Plant and Equipment

Short-Term Investments

Intangible Assets

Investment Loss

Trading Equity Investments

Cash

Interest Payable

Investment Income

$