On 30 June 20X2. King Ltd. purchased 41,000 shares of Prince Inc. for $73,800 plus $4,100 in commission. In 20X2, the company received a $2,050 of dividends, and the shares had a fair value of $90,200 at the end of the year. In 2003, there were no dividends and the shares were sold for $114,800 less a $1,640 commission. Required: 1 Prepare journal entries for 20X2 and 20X3: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Assuming King reports under ASPE and has chosen the cost method. View transaction list Journal entry worksheet 2 3 Record the Investment made in Prince Inc. Netes Enter debts before credits Transaction 20x2 General Journal Debit Credit Racont entry Clear entry View general journal 2 On 30 June 20X2, King Ltd. purchased 41,000 shares of Prince Inc. for $73,800 plus $4,100 in commission. In 20X2, the company received a $2,050 of dividends, and the shares had a fair value of $90,200 at the end of the year. In 20X3, there were no dividends and the shares were sold for $114,800 less a $1,640 commission. Required: 1. Prepare journal entries for 20X2 and 20X3: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Assuming King reports under ASPE and has chosen the cost method. View transaction list Journal entry worksheet 1 3 Record the dividend income. Note: Enter debits before credits Transaction 20x2 General Journal Debit Credit Record entry Clear entry View general joumal On 30 June 20X2, King Ltd. purchased 41,000 shares of Prince Inc. for $73,800 plus $4,100 in commission. In 20X2, the company received a $2,050 of dividends, and the shares had a fair value of $90,200 at the end of the year. In 20X3, there were no dividends and the shares were sold for $114.800 less a $1,640 commission. Required: 1. Prepare journal entries for 20X2 and 20X3: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Assuming King reports under ASPE and has chosen the cost method. View transaction list Journal entry worksheet