2) Scatsland Company had the following transactions relating to investments in trading securities during the year. Prepare the required general Journal entries for these transactions (12 points). a May 4--Scotsland purchased 600 shares of Lobe Company stock at $120 per share plus $750 brokerage fee. July 1--Scotsland received a $2.50 per share cash dividend on the Lobe Company stock. Sept. 15.- Sold 300 shares of Lobe Company stock for $125 per share, less a $450 brokerage fee. Dec. 31-The fair value of the Lobe Company stock (the only investment that Scotsland owns) is $124 per share. The Fair value Adjustment- Trading account had a zero balance prior to adjustment. Date Account Title Debit Credit May 4 July 1 Sept. 15 Dec. 31