may 10: 25,810

1.00 per share cash dividended paid

nov 12: 23,460

1.15 per share cash dividend paid

dec 31: 25,600

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As financial reporting advisors, we are asked by the head of Sterling Co. to advise in accounting for stock investments. This is the first year Sterling had extra cash to invest in stock investments, and it purchased 1,000 shares of LDX for $23 on January 1 of this year. The Tableau Dashboard is provided to aid us in our analysis. Fair Value of Stock Investments Portfolio Dividend Dividend $30,000 $27,500 $25,000 Fair Value $22.500 $20,000 $17,500 1. Prepare Sterling's journal entry to record the receipt of dividends on LDX stock on May 10 and November 12. 2. Prepare Sterling's December 31 year-end adjusting entry to report its stock investments with insignificant influence at fair value. 3. Sterling sells a portion of its LDX stock (for $550 cash that had cost $400) on January 3 of next year. Prepare the entry for the sale of those stock investments. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare Sterling's journal entry to record the receipt of dividends on LDX stock on May 10 and November 12. View transaction list Journal entry worksheet