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Windsor Company has the following portfolio of investment securities at September 30, 2020, its last reporting date. Trading Securities Cost Fair Value Perry, Inc. common
Windsor Company has the following portfolio of investment securities at September 30, 2020, its last reporting date. Trading Securities Cost Fair Value Perry, Inc. common (13,000 shares) $403,000 $385,800 Platter, Inc. common (6,300 shares) 233,100 237,500 Pokey Corp. preferred (1,000 shares) 91,000 86.100 On November 5, 2020, the Platter shares were sold at a price of $39 per share. In addition, 8,500 shares of Patriot common stock were acquired at $34 per share on November 26, 2020. The December 31, 2020, fair values were Perry $383,200, Pokey $87,200, and Patriot common $294,500. All the securities are classified as trading. (a) answer is partially correct. Prepare the journal entries to record the sale, purchase, and adjusting entries related to the trading securities in the last quarter of 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.)
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