On August 4, 2019, Bennett Corporation purchased 4,700 shares of Plummer Company for $267,900. The following information applies to the stock price of Plummer Company: 12/31/2019 12/31/2020 12/31/2021 Price $ 56 61 65 Plummer Company declares cash dividends of $3.50 per share on June 1 of each year and pays the dividends on July 1 of each year. A-5 Part 1 Fequired: Prepare journal entries to record the facts in the case, assuming that Bennett purchased the shares as a passive investment. (If no ntry is required for a transaction/event, select "No journal entry required" in the first account field.) Recognize the fair value of the investments on December 31, 2019. 3 Record the declaration of dividends on June 01, 2020. Record the payments of dividends on July 01, 2020. Recognize the fair value of the investments on December 31, 2020. 6 Record the declaration of dividends on June 01, 2021. Record the payments of dividends on July 01, 2021. 8 Recognize the fair value of the investments on December 31, 2021. Note : journal entry has been entered