Equity Investments: 20%-50% Ownership Instructions Chart of Accounts Instructions On January 2, 20Y7, Mikedes Company acquired 36% of the outstanding stock of Violet Company for $553,000. For the year ended December 31, 20Y7, Violet Company earned income of $100,800 and paid dividends of $22,500. On January 31, 20Y8, Mikedes Company sold all of its investment in Violet Company stock for $587,188. Required: Journalize the entries for Mikedes Company for the purchase of the stock, the share of Violet income, the dividends received from Violet Company, and the sale of the Violet Company stock. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 11:37 am 28C Lluvia ligera ESP 05/13/2022 DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES 1 2 3 4 S 6 Journalize the entry for Mikedes Company for the sale of the Violet Company stock Refer to the chart of accounts for the exact wording of the account titles CNOV for journal explanations. Every line on a journal page is used for debit or credit entries CNOW journals will automatically indent a credit entry when a credit amount JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES E 1 3 heck My Work 3 more Check My Work uses remaining Save and Exit