Coastal Corporation had the following eight investment transactions or events:

Jan 1 Purchased Argon Co. bonds for $28,000 cash. [Purchase is considered an investment in available-for-sale (AFS) debt securities.]

Jan 3 Purchased 10,000 shares of Elmer, Inc. for $35,000 cash. [Purchase is considered an investment in equity securities (stocks) with insignificant influence.]

Mar 31 Received cash dividend of $0.25 per share from Elmer, Inc.

Jun 1 Purchased 15,000 shares of Logan, Inc. for $20 per share. These shares represent a 40% ownership in Logan, Inc.

Sep 30 Received cash dividend of $3 per share from Logan, Inc.

Dec 31 Logan, Inc. reported net income of $250,000 for the year.

Dec 31 As of December 31, the Argon Co. bond had a fair (market) value of $32,000.

Dec 31 As of December 31, the Elmer, Inc. stock had a fair (market) value of $2.50 per share.

Required: Prepare the journal entries Coastal Corporation should record for these transactions and events. (You do not need to add explanations under each entry.) (22 points possible)