Question: GL1501 (Algo) - Based on Problem 15-4A LO P4 Haven Corporation had no short-term investments prior to this year. It had the following transactions this

GL1501 (Algo) - Based on Problem 15-4A LO P4 Haven Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 5,000 shares of Kendall Company stock at $29 per share. July 7 Purchased 3,500 shares of OnPoint Company stock at $54 per share. July 20 Purchased 1,600 shares of Barcelona Company stock at $21 per share. August 15 Received an $1.20 per share cash dividend on the Kendall Company stock. August 28 Sold 3,000 shares of Kendall Company stock at $32 per share. October 1 Received a $4.80 per share cash dividend on the OnPoint Company shares. December 15 Received a $1.40 per share cash dividend on the remaining Kendall Company shares. December 31 Received a $4.20 per share cash dividend on the OnPoint Company shares. Using the information on the Fair Value adjustment tab, prepare an adjusting entry, if necessary, to record the year-end fair value adjustment for the portfolio of short-term investments in available-for-sale securities

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