Ekonomi Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a trading investment for £13,200. During the year, Sherman paid a cash dividend of £3.25 per share. At year-end, Sherman shares were selling for £34.50 per share. Prepare Fairbanks' journal entries to record (a) the purchase of the investment, (b) the dividends received, and (c) the fair value adjustment. camilabartellulv – March 09, 2023
