Crane Corp. acquired $6,400$ shares of Mandrake Corp. on July $1,2024$ at $$9$ per share. There is no quoted market price for Mandrake's

shares as it is a private company. Crane reports under ASPE and has elected to account for the investment using the cost method. On

September $1,$ Mandrake declared and paid a $$0\mathrm{.}40$ per share dividend and on December $31,$ Crane sells the shares at $$8$ per share.

Prepare the journal entries to record the above transactions. $($Credit account titles are automatically indented when amount is

entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select

$"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

July $1$

September $1$

$ln$

Cash

Cash

Di

Cash

Loss on Disposal of Investments $-$ Cost$/$Amortized Cost

Investment in Associate

Debit $.$

Credit

$57600$

$00$