2. The following transactions and information pertain to Langston Corporation for 20x7. Prepare entries in journal form, with explanations, to record these transactions. May 1 Purchased 1,000 shares of Granger Corporation's common stock at $180 per share (representing 5 percent of Granger's total outstanding stock) as a long-term investment. Sept. 1 Received a cash dividend of $6.00 per share from Granger. Dec. 31 This is the end of Langston's accounting year. Granger's market price per share is $168.