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 during a recent year using the fair value method.

Feb. 2Purchased for cash 1,250 shares of Celeste Inc.s common stock for $73 per share plus a $625 brokerage commission. Celeste Inc. has 81,000 shares of common stock outstanding.Mar. 6Received dividends of $0.20 per share on Celeste Inc. stock.June 7Purchased 850 shares of Celeste Inc. stock for $81 per share plus a $425 brokerage commission.July 26Sold 1,500 shares of Celeste Inc. stock for $86 per share less a $750 brokerage commission. Quan assumes that the first investments purchased are the first investments sold.Sept. 25Received dividends of $0.30 per share on Celeste Inc. stock.Dec. 31At the end of the accounting period, the fair value of the remaining 600 shares of Celeste Inc. stock was $51,900.

If an amount box does not require an entry, leave it blank. When required, round final answers to the nearest dollar.

Feb. 2CashDividends ReceivableDividend RevenueInvestments-Celeste Inc. StockNotes ReceivableInvestments-Celeste Inc. StockInvestments-Celeste Inc. StockInvestments-Celeste Inc. Stock CashDividends ReceivableDividend RevenueInvestments-Celeste Inc. StockNotes Receivable- Select -- Select -Mar. 6CashDividends ReceivableDividend RevenueInvestments-Celeste Inc. StockNotes Receivable- Select -- Select - CashDividends ReceivableDividend RevenueInvestments-Celeste Inc. StockNotes Receivable- Select -- Select -June 7CashDividends ReceivableDividend RevenueInvestments-Celeste Inc. StockNotes Receivable- Select -- Select - CashDividends ReceivableDividend RevenueInvestments-Celeste Inc. StockNotes Receivable- Select -- Select -July 26CashDividend RevenueGain on Sale of InvestmentsInvestments-Celeste Inc. StockLoss on Sale of Investments- Select -- Select - CashDividends ReceivableDividend RevenueGain on Sale of InvestmentsLoss on Sale of Investments- Select -- Select - CashDividend RevenueInvestments-Celeste Inc. StockLoss on Sale of InvestmentsNotes Receivable- Select -- Select -Sept. 25CashDividends ReceivableDividend RevenueInvestments-Celeste Inc. StockLoss on Sale of Investments- Select -- Select - CashDividends ReceivableDividend RevenueGain on Sale of InvestmentsInvestments-Celeste Inc. Stock- Select -- Select -Dec. 31CashDividends ReceivableUnrealized Gain on Equity InvestmentsUnrealized Loss on Equity InvestmentsValuation Allowance for Equity Investments- Select -- Select - CashDividends ReceivableUnrealized Gain on Equity InvestmentsUnrealized Loss on Equity InvestmentsValuation Allowance for Equity Investments- Select -- Select