Entries for equity investments: less than 20% ownership Quan Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Quan durin recent year using the fair value method. Feb. 2 Purchased for cash 1,300 shares of Celeste Inc.'s common stock for $38 per share plus a $650 brokerage commission. Celeste Inc. has 87,000 shares of common stock outstanding. Mar. 6 Received dividends of $0.30 per share on Celeste Inc. stock. June 7 Purchased 800 shares of Celeste Inc. stock for $47 per share plus a $400 brokerage commission. July 26 Sold 1,500 shares of Celeste Inc. stock for $51 per share less a $750 brokerage commission. Quan assumes that the first investments purchased are the first investments sold. Sept. 25 Received dividends of $0.40 per share on Celeste Inc. stock. Dec. 31 At the end of the accounting period, the fair value of the remaining 600 shares of Celeste Inc. stock was $30,500. If an amount box does not require an entry, leave it blank. When required, round final answers to the nearest dollar. Check My Work When recording the purchase of the investment, consider the amount of the brokerage commission. Record the revenue earned. When recording the cash received, consider the commission. To complete the entry determine and gain or loss to be recorded