On August 1, 2021, Sweetwater Ltd. purchased 1,000 Datawave Inc. common shares for $44,500 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 Sweetwater received on December 28, 2021. On December 31, 2021, Sweetwater's year end, the shares' fair value was $47,400. (a) Your answer is correct. Prepare the journal entry to record the purchase of this investment on August 1. (List all debit entries before credit entries. 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 Aug. 1 Debit Trading Investments Credit (b) Prepare the journal entry to record the receipt of the dividend on December 28. (List all debit entries before credit entries. 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 Dec. 28