On March 10, 2014, Dearden, Inc., purchased 15,000 shares of Jaffa stock for $35 per share. Management

Question:

On March 10, 2014, Dearden, Inc., purchased 15,000 shares of Jaffa stock for $35 per share. Management recorded it in the available-for-sale securities portfolio. The following information pertains to the price per share of Jaffa stock:

Dearden sold all of the Jaffa stock on September 12, 2017, at a price of $30 per share. Prepare any journal entries that are required by the facts presented in this case.