Exercise 16-05 (Video) Crane Inc. had the following transactions pertaining to investments in common stock. Jan. 1 Purchased 4,100 shares of Escalante Corporation common stock (6%) for $249,280 cash July 1 Received a cash dividend of $4 per share. Dec. 1 Sold 820 shares of Escalante Corporation common stock for $52,480 cash. Dec. 31 Received a cash dividend of $4 per share. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent If no entry is required, select "No entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 July 1 Dec. 1 Dec. 31