McBain Electronics completed the following investment transactions during 2016 and 2017: 2016 Dec. 12 Purchased 1,500 shares

Question:

McBain Electronics completed the following investment transactions during 2016 and 2017:
2016
Dec. 12 Purchased 1,500 shares of Blackmore Ltd. at a price of $62.00 per share, intending to sell the investment within the next year. Commissions were $510.
21 Received a cash of $0.48 per share on the Blackmore Ltd. shares.
31 Adjusted the investment to its fair value of $61.50 per share.
2017
Jan. 16 Sold the Blackmore Ltd. shares for $59.00 per share, less commissions of $490.
1. Classify McBain's investment as short term or long term.
2. Journalize McBain's investment transactions. Explanations are not required.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...