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Sandhill Ltd$.$ is a Canadian publicly$-$traded business with a December $31$ fiscal year end. In order to get a better return on some of its excess cash, Sandhill purchased $130$ common shares of AFS Corporation on July $1,2023$ at a price of $$4$ per share. On the day of acquisition, Sandhill elected to account for the investment using the fair$-$value through other comprehensive income $($FV$-$OCI$)$ without recycling. On August $1,2023,$ AFS declared dividends of $$1/$share$,$ and paid those dividends on August $20,2023.$ On December $31,2023,$ shares in AFS were trading at $$5$ per share. On September $15,2024,$ Sandhill sold the shares in AFS for $$7$ per share.

Prepare the journal entries required to record the above transactions on the books of Sandhill Ltd$.($Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. 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.$)$

Date

Account Titles and Explanation

FV$-$NI Investments

Cash

Dividend Receivable

$($To adjust to fair value on date of disposition$)$

$[$

$($To record disposal$)$

$($To reclassify holding gain$)$

Debit

Credit

$[$

$[$

$($To record disposal$)$

$[$

$($To reclassify holding gain$)$