8. On

MayMay

15,

20182018,

StaceyStacey

Co. invests

$ 12 comma 000$12,000

in

MaxMax,

Inc. stock.

MaxMax

pays

StaceyStacey

a

$ 900$900

dividend on

NovemberNovember

15,

20182018.

StaceyStacey

sells the

MaxMax

stock on

DecemberDecember

10,

20182018,

for

$ 11 comma 800$11,800.

Assume the

StaceyStacey

Co. does not have significant influence over

MaxMax,

Inc. Journalize the

20182018

transactions related to

StaceyStacey's

investment in

MaxMax

stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)Begin by journalizing

StaceyStacey's

initial investment in

MaxMax,

Inc., stock on

MayMay

15,

20182018.

Date			Accounts and Explanation	Debit	Credit
2018
May 15

Next, journalize

StaceyStacey's

receipt of the

NovemberNovember

15,

20182018

dividend.

Date			Accounts and Explanation	Debit	Credit
2018
Nov. 15

Now journalize

StaceyStacey's

sale of the

MaxMax,

Inc., stock on

DecemberDecember

10,

20182018.

Date			Accounts and Explanation	Debit	Credit
2018
Dec. 10

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