9 of 20 Your answer is partially correct. On January 5, 2020, Larkspur Company purchased the following stack securities: 312 shores Bonter Corporation common stock for $4,680. 520 shares Wane Corporation common stock for $10,400. 832 shares Strauss Corporation common stock for $23,712. Assume that Larkspur Company cannot exercise significant influence over the activities of the Investee companies and that the cost method is used to account for the investments. On June 30, 2020. Larkspur Company received the following cash dividends: Bonter Corporation Wane Corporation Strauss Corporation $2.00 per share $1.00 per share $1.50 per share On November 15, 2020, Larkspur Company sokl 176 shares of Strauss Corporation common stock for $7.920. On December 31, 2020, the fair value of the securities held by Larkspur Company is as follows: Per Share Bonter Corporation common stock Wane Corporation common stock Strauss Corporation common stock $10 16 28 3.87/5 Prepare the appropriate journal entries that Larkspur Company should make during 2020 to account for the company's stock portfolio. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation January 5, 2020 Stock Investments Cash June 30, 2020 Cash DMdend Revenue November 15, 2020 * Cash Debit Credit 39,792 38,792 2,392 2,392 Question 9 of 20 < > View Policies Current Attempt in Progress On January 5, 2020, Larkspur Company purchased the following stock securities: 312 shares Bonter Corporation common stock for $4,680. 520 shares Wane Corporation common stock for $10,400. 832 shares Strauss Corporation common stock for $23,712. -15: Assume that Larkspur Company cannot exercise significant influence over the activities of the investee companies and that the cost method is used to account for the investments. On June 30, 2020, Larkspur Company received the following cash dividends: Bonter Corporation Wane Corporation Strauss Corporation $2.00 per share $1.00 per share $1.50 per share On November 15, 2020, Larkspur Company sold 176 shares of Strauss Corporation common stock for $7,920. On December 31, 2020, the fair value of the securities held by Larkspur Company is as follows: Per Share Bonter Corporation common stock Wane Corporation common stock $10 16 Strauss Corporation common stock 28 Question 9 of 20 < > -/5 EI portfolio. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) e Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit