Answer:
The Journal entry was recorded for Sage Inc, in the explanation section below
Explanation:
Journal Entries
Date Account Title and Debit $ Credit $
Explanation
21st Sept-21 Equity Investments
( $1,397,000- $1,030,000,) $367,000
To unrealized holding gain
or loss $367,000
21st Sept-21 The retained earnings $1,397,000
To Property Dividends payable $1,397,000
08- Oct-21 No entry
23- Oct-21 Property Dividends payable $1,397,000
To Equity Investments $1,397,000
