Apr. 18 Prepare Riley Company's journal entries to record the following transactions for the current year. Purchases 300 common shares of XLT Co. as a short-term investment at a cost of $42 per share. With this stock investment, Riley has an insignificant influence over XLT. Receives $1 per share from XLT in dividends. May 30 QS 15-11 Accounting fo investments

Prepare Riley Company's journal entries to record the following transactions for the current year. QS 15-11 Apr. 18 Purchases 300 common shares of XLT Eo. as a short-term investment at a cost of $42 per share. Accounting With this stock investment, Riley has an insignificant influence over XLT. May 30 Receives \$1 per share from XLT in dividends