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Idle Corporation has been acquiring shares of Fast Track Enterprises at book value for the last several years. Fast Track provided data including the following:

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Idle Corporation has been acquiring shares of Fast Track Enterprises at book value for the last several years. Fast Track provided data including the following: Fast Track declares and pays its annual dividend on November 15 each year, its net book value on January 1, 202, was $254,000. Idie purchased shares of Fast Track on three occasions: Required: Give the journal entries to be recorded on Idle's books in 205 related to its investment in Fast Track. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Required: Give the journal entries to be recorded on Idle's books in 205 related to its investment in Fast Track. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the purchase of Fast Track stock. Note: Enter debits before credits. Required: Give the journal entries to be recorded on Idle's books in 205 related to its investment in Fast Track. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the dividend from Fast Track Enterprises. Note: Enter debits before credits. Required: Give the journal entries to be recorded on Idle's books in 205 related to its investment in Fast Track. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Note: Enter debits before credits

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