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*E18-22 (Entries for Stock Rights) On January 10, 1998, Kevin Bacon Company purchased 240 shares, $50 par value (a 3% interest), of common stock of Diner Corporation for $24,000 as a long-term investment. On July 12, 1998, Diner Corporation announced that one right would be issued for every two shares of stock held. July 30, 1998 Rights to purchase 120 shares of stock at $100 per share are received. The market value of the stock is $120 per share and the market value of the rights is $30 per right. Aug. 10 The rights to purchase 50 shares of stock are sold at $29 per right. Aug. 11 The additional 70 rights are exercised, and 70 shares of stock are purchased at $100 per share. Nov. 15 50 shares of those purchased on January 10, 1998, are sold at $123 per share. Instructions Prepare general journal entries on the books of Bacon Company for each of the foregoing transactions