intries for equity investments: less than 20% ownership On February 22, Triangle Corporation acquired 7,700 shares of the 270,000 outstanding common stock of Jupiter Co, at $37.90 plus commission charges of $770. On June 1, a cash dividend of $0.65 per share was received. On November 12,2,500 shares were sold at $46 less commission charges of $300. At the end of the accounting period on December 31 , the fair value of the remaining 5,200 shares of Jupiter Company's stock was $38.50 per share. In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar. a. Using the cost method, journalize the entry for the purchase of stock. If an amount box does not require an entry, leave it blank. Feb Feedback Check My Work a. When recording the purchase of the investment, consider the amount of the brokerage commission. b. Using the cost method, journalize the entry for the receipt of dividends. If an amount box does not require an entry, leave it blank. June 1 Feedback Check My Work b. Record the revenue earned. c. Using the cost method, journalize the entry for the sale of 2,500 shares. If an amount box does not require an entry, leave it blank. Using the cost method, journalize the entry for the sale of 2,500 shares. If an amount box does not require an entry, leave it blank. ov. 12 Feedback Check My Work c. When recording the cash received, consider the commission. To complete the entry determine and gain or loss to be recorded. Using the cost method, journcilize the entry for the change in fair value. If an amount box does not require an entry, leave it blank. Dec. 31 Valuation Allowance for Equity Investments