7. On May 15, 2016, Sandler Co. invests $15,000 in Saddle, Inc. stock. Saddle pays Sandler a $400 dividend on November 15, 2016. Sandier sells the Saddle stock on December 10, 2016, for $14,700. Assume the investment is categorized as long-term available for-sale. Journalize the 2016 transactions related to Sandlers investment in Saddle stock. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) Begin by journalizing Sandler's inital investment in Saddle, Inc., stock on May 15, 2016. DateAccounts and ExplanationDebit Credit May 15, 2016 Next, journalize Sand er's receipt of the Novenber 15, 2016 dividend. Date Nov. 15, 2016 Debit Credit Now joumalize Sandiler's sale of the Saddle, Inc., stock on December 10, 2016. DebitCredit Date Dec. 10, 2016