4. During YR12, Combs reported a net loss of $10,000 and paid its shareholders a total of $5,000 of cash dividends. \begin{tabular}{|l|l|l|l|l|} \hline Account Debited & Account Credited & Amount Debited & Amount Credited \\ \hline[ [ Select ] & & & {[ Select ]} & \\ \hline & & {[ Select ]} & & {[ Select ] } \\ \hline \end{tabular} 5. On December 31, YR12, all of Combs' common stock had a total FMV of $940,000. \begin{tabular}{|l|l|l|l|l|} \hline Account Debited & Account Credited & Amount Debited & Amount Credited \\ \hline \hline[ Select ] & & & {[ Select ]} & \\ \hline & & & & \\ \hline & [ Select ] & & & {[ Select ] } \\ \hline \end{tabular} The Dawson Company uses the fair value method to account for its investment in Combs' company. Ignore closing entries recorded on December 31 to close temporary accounts. The Dawson Company ends its fiscal year on December 31 of each year. Note 1: The fair value method is the method used to account for investments classified as trading securities. (Even though Dawson bought exactly 20% of Combs, treat the investment as a trading security.) Prepare journal entries for Dawson Company based on the information provided 1 5. information: 4. During YR12, Combs reported a net loss of $10,000 and paid its shareholders a total of $5,000 of cash dividends. \begin{tabular}{|l|l|l|l|l|} \hline Account Debited & Account Credited & Amount Debited & Amount Credited \\ \hline[ [ Select ] & & & {[ Select ]} & \\ \hline & & {[ Select ]} & & {[ Select ] } \\ \hline \end{tabular} 5. On December 31, YR12, all of Combs' common stock had a total FMV of $940,000. \begin{tabular}{|l|l|l|l|l|} \hline Account Debited & Account Credited & Amount Debited & Amount Credited \\ \hline \hline[ Select ] & & & {[ Select ]} & \\ \hline & & & & \\ \hline & [ Select ] & & & {[ Select ] } \\ \hline \end{tabular} The Dawson Company uses the fair value method to account for its investment in Combs' company. Ignore closing entries recorded on December 31 to close temporary accounts. The Dawson Company ends its fiscal year on December 31 of each year. Note 1: The fair value method is the method used to account for investments classified as trading securities. (Even though Dawson bought exactly 20% of Combs, treat the investment as a trading security.) Prepare journal entries for Dawson Company based on the information provided 1 5. information