(Learning Objective 1: Journalizing transactions for trading securities) Journalize the following trading securities investment transactions of Cullen Brothers Department Stores:

a. Purchased 470 Potter Foods shares at $31 per share, with the intent of holding the shares for the indefi nite future.

b. Received cash dividend of $1.70 per share on the Potter investment.

c. At year-end, adjusted the investment account to fair market value of $36 per share.

d. Sold the Potter shares for the market price of $22 per share.