On August 1, 2018, Pearl City Ltd. purchased 900 Datawave Inc. common shares for $46,800 cash with the intention of trading the shares and using the fair value through profit or loss model. Datawave declared a dividend of $1 per common share, which Pearl City received on December 28, 2018. On December 31, 2018, Pearl City's year end, the shares' fair value was $47,100. Prepare the journal entry to record the purchase of this investment on August 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Aug. 1 Prepare the journal entry to record the receipt of the dividend on December 28. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 28 Prepare the journal entry to record any adjusting journal entry required at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31