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3) On March 1, 2018, Rawlins Company invests $25,000 in Ashton Company stock. Ashton pays Rawlins a 8800 dividend on September 30, 2018. Rawlins sells

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3) On March 1, 2018, Rawlins Company invests $25,000 in Ashton Company stock. Ashton pays Rawlins a 8800 dividend on September 30, 2018. Rawlins sells the Ashton stock on November 30, 2018 for $23.500. Assume the investment is categorized as a short-term cquity investment and that Rawlins does not have significant influence over Ashton. Requirements: 1. Journalize the transactions for Rawlins' investment in Ashton's stock

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