Lumen OHM Assessment

Clinton Financials completed the following long-term, available-for-sale investments during 2019:

April 5 Purchased 639 shares of Jokers Corporation stock, paying $43 per share. The investment represents 2 % ownership in Jokers Corporation voting stock.
September 2 Received a cash dividend of $0.87 per share of the Jokers Corporation stock.
December 31 Adjust the Jokers Corporation investment to its current market rate of $42.
On October 1, 2020 Clinton Financials sold its investments in Jokers Corporation stock for $39 per share.

Journalize the entries for 2019 and the sale in 2020.

Journal
Date	Description	Debit	Credit
April 5, 2019	Long-Term Investments-Available for Sale	27,477.00
April 5, 2019	Cash		27,477.00

September 2, 2019	Cash	555.93
September 2, 2019	Dividend Revenue		555.93

December 31, 2019	Unrealized Holding Loss-Available-for-Sale	639.00
December 31, 2019	Fair Value Adjustment-Available-for-Sale		639.00

October 1, 2020	Cash	24,921.00
October 1, 2020	Loss on Disposal	2,556.00
October 1, 2020	Long-Term Investments-Available for Sale		27,477.00