equity investments: less than 20% ownership.

On January 23, 17,000 shares of Aurora Company's common stock are acquired at a price of $24 per share plus a $180 brokerage commission. On April 12, a $0.30-per-share dividend was received on the Aurora Company stock. On June 10, 6,600 shares of the Aurora Company stock were sold for $31 per share less a $125 brokerage commission. At the end of the accounting period on December 31, the fair value of the remaining 10,400 shares of Aurora Company's stock was $30 per share. Aurora Company has 220,000 shares of common stock outstanding. Required: Journalize the entries for the original purchase, dividend, sale, and change in fair value under the fair value method. 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. When required, round your answers to the nearest dollar. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 6 7 8 9 ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 611 Interest Revenue 120 Accounts Receivable 612 Dividend Revenue 121 Allowance for Doubtful Accounts 621 Income of Aurora Company 131 Notes Receivable 631 Gain on Sale of Investments 132 Interest Receivable 641 Unrealized Gain on Equity Investments 141 Merchandise Inventory 145 Office Supplies EXPENSES 161 Investments-Aurora Company Stock 511 Cost of Merchandise Sold 165 Valuation Allowance for Equity Investments 512 Bad Debt Expense 166 Valuation Allowance for Available-for-Sale Investments 516 Cash Short and Over 181 Land 520 Salaries Expense 193 Office Equipment 531 Advertising Expense 534 Selling Expenses 194 Accumulated Depreciation Office Equipment 535 Rent Expense LIABILITIES 537 Office Supplies Expense 210 Accounts Payable 562 Depreciation Expense-Office Equipment 221 Notes Payable 590 Miscellaneous Expense 231 Interest Payable 710 Interest Expense 194 Accumulated Depreciation Office Equipment 534 Selling Expenses 535 Rent Expense LIABILITIES 537 Office Supplies Expense 210 Accounts Payable 562 Depreciation Expense-Office Equipment 221 Notes Payable 590 Miscellaneous Expense 231 Interest Payable 710 Interest Expense 241 Salaries Payable 721 Loss of Aurora Company 731 Loss on Sale of Investments EQUITY 741 Unrealized Loss on Equity Investments 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Treasury Stock 332 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 350 Unrealized Gain (Loss) on Available-for-Sale Investments 351 Cash Dividends 352 Stock Dividends