Sponsor Corporation reports short-term investments on its balance sheet. Suppose a division of Sponsor completed the following short-term investment transactions during 2010:

Requirement
1. Prepare T-accounts for Cash, Short-Term Investment, Dividend Revenue, Unrealized Gain (Loss) on Investment, and Gain on Sale of Investment. Show the effects of Sponsors investment transactions. Start with a cash balance of $97,000; all the other accounts start atzero.

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2010 Dec 12 Purchased 600 shares of Disc, Inc, stock for $21,600. Sponsor plans to sell the stock at a profit in the near future. Received a cash dividend of $0.81 per share on the Disc, Inc., stock. 21 31 Adjusted the investment in Disc, Inc, stock. Current market value is $27,000. Sponsor still plans to sell the stock in early 2011. 2011 Jan 16 Sold the Disc, Inc., stock for $35,670.