Entries for equity investments: less than $20\%$ ownership

of Jupiter Company's stock was $$26\mathrm{.}50$ per share.

In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar.

a$.$ Using the cost method, journalize the entry for the purchase of stock. If an amount box does not require an entry, leave it blank.

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a$.$ When recording the purchase of the investment, consider the amount of the brokerage commission.

b$.$ Using the cost method, journalize the entry for the receipt of dividends. If an amount box does not require an entry, leave it blank.

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b$.$ Record the revenue earned.

c$.$ Using the cost method, journalize the entry for the sale of $2,300$ shares. If an amount box does not require an entry, leave it blank.

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c$.$ When recording the cash received, consider the commission. To complete the entry determine and gain or loss to be recorded.

d$.$ Using the cost method, journalize the entry for the change in fair value. If an amount box does not require an entry, leave it blank.

Dec. $31$ Valuation Allowance for Equity Investments $$

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Partially correct

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Partially correct