Nov Suppose Cape Corp conged to flowing investment transactions in 2020 and 2021 2020 6 Purchased 2,000 McGrath Corporation common shares of $4,000 Caloon plans to wed the shares in the near fure to meet operating cash flow repudrement. Brokerage commissions on the purchase were 70 30 Received a quarterly cash dividend of 2.00 per share on Mc Corporation shoes Dec 31 Cument fair value of the McGrath common shares is $86,000. This is yow end for Calgon cop Jan 20 sold the McGrath Corporation shares for $82,800, tess brokerage commissions on the sale of $970 Reduced 2021 A Requirements 1. Make the entries to record Calgon Corp.'s investment transactions. 2. Show how Calgon Corp. would report its investment in the McGrath Corporation shares on the balance sheet at December 31, 2020. Print Done Requirement 1. Make the entries to record Caigon Corp investment ansactions November 6, 2020. Prathered 2,000 Marin Corporation common es for $4,000. Calgon plana to set the share in care sure to meet the operating can tow requrmere trage con to purchase were 5670 (Record debits first, then credit Exclude explanation from journal entre) Journal Entry Accounts Debit Credit 2020 Die Nowo VAPITOLUIS HUI Journal Journal Entry Date Accounts Debit Credit 2020 Nov. 6 November 30, 2020. Received a quarterly cash dividend of $2.00 per share on the McGrath Corporation shares. Journal Entry Accounts Date Debit Credit 2020 Nov. 30 December 31, 2020. Current fair value of the McGrath common shares is $86,800. This is year-end for Calgon Corp. Journal Entry Accounts Date Debit Credit 2020 Dec. 31 January 20, 2021. Sold the McGrath Corporation shares for $88,800, less commissions on the sale of $970. Journal Entry Date Accounts Debit Credit 2021 Jan. 20 Requirement 2. Show how Calgon Corp, would report its investment in the McGrath Corporation shares on the balance sheet at December 31, 2020, Calgon Corp. Balance Sheet (partial) December 31, 2020 Assets Current assets