View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. Sheffield Corporation owns shares of Raccoon Company that are classified as part of Sheffield's trading portfolio and accounted for using the fair value through net income model. At December 31, 2021, the securities were carried in Sheffield's accounting records at their cost of $388,000, which equaled their fair value. On November 1, 2022, when the securities fair value was $439,000, Sheffield declared hat will result in Raccoon's securities being distributed on December 15, 2022 to the shareholders of record on December 1, 2022. Prepare the journal entries for all thro dates. (Credit account titles are automatically indented when the amount manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Nov. 1.2022 Account Titles and Explanation No Entry No Entry (To record fair value adjustment) No Entry No Entry (To record declaration of property dividend) MacBook Pro Debit Credit Prepare the journal entries for all three dates. (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 O for the amounts. Record journal entries in the order presented in the problem.) Date Nov. 1, 2022 Dec. 1,2022 Account Titles and Explanation No Entry No Entry (To record fair value adjustment) No Entry No Entry I (To record declaration of property dividend) No Entry No Entry Dec. 15, 2022 ~ No Entry No Entry eTextbook and Media List of Accounts MacBook Pro Debit Credit