Journalizing equity investment transactions; fair value method Quan Corp. manufactures construction equipment. Journalize the entries to record the following selected equity investment transactions completed by Quan during a recent year using the fair value method. If an amount box does not require an entry, leave it blank. Feb. 2. Purchased for cash 3,100 shares of Celeste Inc.'s common stock for $32 per share. Celeste Inc. has 80,000 shares of common stock outstanding. Mar. 6. Received dividends of $0.45 per share on Celeste Inc. stock. June 7. Purchased an additional 1,400 shares of Celeste Inc. stock for $38. July 26. Sold 2,500 shares purchased on February 2 for $41 per share. Sept. 25. Received dividends of $0.62 per share on Celeste Inc. stock. Dec. 31. At the end of the accounting period, the fair value of the remaining 2,000 shares of Celeste Inc. stock was $40 per share. Feb. 2 Investments-Celeste Inc. Stock Cash 99,324 X 99.324 X Mar. 6 Cash 1,395 Dividend Revenue 1,395 V June 7 Investments-Celeste Inc. Stock 53.256 X Cash 53,256 X July 26 Cash 163,900 X Sept. 25. Received dividends of $0.62 per share on Celeste Inc. stock. Dec. 31. At the end of the accounting period, the fair value of the remaining 2,000 shares of Celeste Inc. stock was $40 per share. Investments-Celeste Inc. Stock Feb. 2 Cash 99.324 X 99,324 X Mar. 6 Cash Dividend Revenue 1.395 1.395 June 7 Investments-Celeste Inc. Stock 53,256 X Cash 53,256 X July 26 Cash 163,900 X Gain on Sale of Investments 30,340 X Investments-Celeste Inc. Stock 194,240 X Sept. 25 Cash Dividend Revenue 310 X 310 X Dec. 31 Valuation Allowance for Equity Investments Unrealized Gain on Equity Investments 1,700 X 1,700 X