In early $2023,$ for the first time, Bridgeport Corp. invested in the common shares of another Canadian company. It acquired $6,300$

shares of Toronto Stock Exchange$-$traded Bayscape Ltd$.$ at a cost of $$86,625.$ Bayscape is projected to reach a value of $$15\mathrm{.}50$ per

share by the end of $2023$ and $$17$ by the end of $2024,$ and has consistently paid an annual dividend of $$0\mathrm{.}90$ per share. Bridgeport is

also a Canadian public corporation with a December $31$ year end.

The controller of Bridgeport is uncertain about which accounting method to use. The company is interested in establishing a closer

relationship with Bayscape, but if that fails, Bridgeport considers the investment a good opportunity to make a gain on its sale in the

future. The controller has been advised that the investment could be accounted for at cost or at fair value. If at fair value, a decision

would have to be made about whether to put the changes in fair value through net income or other comprehensive income. As one

step in making a decision, the controller would like to know what the effect would be on total assets and net income in each of $2023$

and $2024$ if the predictions about Bayscape's share prices and dividends are correct. Assume there would be no recycling of realized

investment gains and losses.

$($a$)$

Prepare journal entries for each of the three accounting alternatives indicated to recognize each of the following: $(1)$ the $2023$

dividend, $(2)$ any December $31,2023$ adjustments, $(3)$ the $2024$ dividend, and $(4)$ any December $31,2024$ adjustments. $($Credit

account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for

the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$