Chapter 1b - Home Work Wuestions Seved Help Save E Submit Check my work 5 Rowan Co. purchases 400 common shares (40%) of JBI Corp. as a long-term Investment for $620,000 cash on July 1, JBI Corp. pald $14,000 in total cash dividends on November 1 and reported net income of $280,000 for the year, 5 points (1)-(3) Prepare Rowan's entries to record the purchase of JBI shares, the receipt of its share of Jel dividends and the December 31 year-end adjustment for its share of JBI net income. View transaction list eBook Journal entry worksheet Print 2 3 Record the purchase of JBI shares. References Note: Enter debits before credits Debit Credit General Journal Date Jul 01 View general journal Clear entry Record entry