es Gator Shoes, Incorporated, manufactures a line of stylish waterproof footwear. The following transactions relate to investments in common stock during 2024. March 1 Purchases 1,100 shares (10%) of Power Drive Corporation's common stock for $43 per share. July 1 Receives a cash dividend of $1.30 per share. December 31 The fair value of Power Drive Corporation's common stock is $56 per share. On February 1, 2025 (the following year), Gator Shoes sells 275 shares of Power Drive Corporation's common stock for $51 per share. Required: 1. Record each of these transactions in 2024, including an adjusting entry on December 31 for the investment's fair value, if appropriate. 2. Record the sale on February 1, 2025, Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. View transaction list Journal entry worksheet

Gator Shoes, Incorporated, manufactures a line of stylish waterproof footwear. The following transactions relate to investments in common stock during 2024. March 1 Purchases 1,100 shares (1en) of Power Drive Corporation's comon stock for $43 per share. July 1 Receives a cash dividend of $1.30 per share. December 31 The fair value of Power Drive Corporation's common stock is $56 per share. On February 1, 2025 (the following year), Gator Shoes sells 275 shares of Power Drive Corporation's common stock for $51 per share. Required: 1. Record each of these transactions in 2024 , including an adjusting entry on December 31 for the investment's fair value, if appropriate. 2. Record the sale on February 1, 2025. Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Journal entry worksheet Record any necessary fair value adjusting entry. Gator Shoes, Incorporated, manufactures a line of stylish waterproof footwear. The following transactions relate to investments in common stock during 2024 . March 1 Purchases 1,1ee shares (10w) of Power Orive Corporation's comon stock for \$43 per share. July 1 Receives a cash dividend of $1.30 per share. Decenber 31 The fair vatue of Power Drive Corporation's common stock is $56 per share. On February 1, 2025 (the following year). Gator Shoes sells 275 shares of Power Drive Corporation's common stock for \$51 per share. Required: 1. Record each of these transactions in 2024 , including an adjusting entry on December 31 for the investment's fair value, if appropriate. 2. Record the sale on February 1,2025 Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Journal entry worksheet Record the purchase of the investment. fote: Inter debita before cresas Gator Shoes, Incorporated, manufactures a line of stylish waterproof footwear. The following transactions relate to investments in common stock during 2024 . March 1 Purchases 1,100 shares (104) of Power Drive Corporation's comeon stock for \$43 per share. July 1 Receives a cash dividend of $1.30 per share. December 31 The fair value of Power Drive Corporation's common stock is $56 per share. On February 1, 2025 (the following year), Gator Shoes sells 275 shares of Power Drive Corporation's common stock for $51 per share. Required: 1. Record each of these transactions in 2024, including an adjusting entry on December 31 for the investment's fair value, if appropriate. 2. Record the sale on February 1,2025. Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Journal entry worksheet 4 Record the receipt of cash dividends. Note: Enter debits before credits Gator Stoes, incorporated, manufactures a ine of stylish waterproof foctweat, The following transactions relate to invertments in common slock during 2024 March 1 Purchnes 1,100 shares (10v) of Pover orfve Corporation's canhoh stock for $43 ser share. Joly 1 Recolves a cash dividend of 51.39 per share. Dectober 31 The fair value of Power Drive Cerporation's comen stock. is 39 per share. On February 1, 2025 the following yead, Gator Shoes sells 275 stiares of Power Drive Corporation's common stock for 35t pee share. Pequired: 1. Record esch of these transactions in 2024, inouding an adjusting entry on Docember 31 for the investrenents fair value, if appecorlate. 2. Aecord the sele on February 1, 2025 Note: If ne entry is required for a particular transaction/event, select "No Journat Entry Required" in the first acceunt field Journal entry worksheet Record the saie on Febcuary 1, 2025