Glacier Products Inc. is a wholesaler of rock climbing equipment. The company began operations on January 1, Year 1. The following transactions relate to securities acquired by Glacier Products Inc., whose fiscal year ends December 31:

Year 1
January 18.	Bought 8,000 shares of Malmo Inc. as an available-for-sale security at $48 per share, including brokerage commission.
July 22.	A cash dividend of $0.55 per share was received on the Malmo shares.
October 5th.	He sold 2,400 shares of Malmo Inc. for $53 per share, less a $50 brokerage fee.
Dec. 18.	He received a regular cash dividend of $0.55 per share in Malmo Inc.
December 31	Malmo Inc. is classified as an available-for-sale investment and is adjusted at fair value of $45 per share. Use the valuation allowance for the available-for-sale investments account when making the adjustment.
year 2
January 25.	Bought an influential stake in Helsi Co. for $590,000 by purchasing 52,500 shares directly from the Helsi Co. founder's estate. There are 150,000 Helsi Co. shares outstanding.
July 16th.	He received a cash dividend of $0.65 per share in Malmo Inc.
December 16.	He received a cash dividend of $0.65 per share plus an additional dividend of $0.15 per share in Malmo Inc.
December 31	Received $18,000 in cash dividends on Helsi Co stock. Helsi Co. reported net income of $74,000 in year 2. Glacier Products uses the equity method to account for its investment in Helsi Co.
December 31	Malmo Inc. is classified as an available-for-sale investment and is adjusted at fair value of $52 per share. Use the valuation allowance for the available-for-sale investments account when adjusting for the increase in fair value from $45 to $52 per share.

Required:

 Journalize the entries to record the above transactions.