On December $31,2021,$ the end of its first year of operations, Pharoah Associates owned the following

securities that are held as long$-$term investments.

On this date, the total fair value of the securities was equal to its cost. The securities are not held for

influence or control over the investees. In $2022,$ the following transactions occurred.

July $1$ Received $$2\mathrm{.}00$ per share semiannual cash dividend on D Co$.$ common stock.

Aug. $1$ Received $$0\mathrm{.}50$ per share cash dividend on C Co$.$ common stock.

Sept. $1$ Sold $1,020$ shares of D Co$.$ common stock for cash at $$9$ per share.

Oct. $1$ Sold $274$ shares of C Co$.$ common stock for cash at $$54$ per share.

Nov. $1$ Received $$1$ per share cash dividend on E Co$.$ common stock.

Dec. $15$ Received $$0\mathrm{.}50$ per share cash dividend on $C$ Co$.$ common stock.

$31$ Received $$2\mathrm{.}30$ per share semiannual cash dividend on D Co$.$ common stock.

At December $31,$ the fair values per share of the common stocks were C Co$.$ $$51,$ D Co$.$ $$7\mathrm{.}70,$ and E Co$.$ $$24.$

These investments should be classified as long$-$term.

$($a$)$

Journalize the $2022$ transactions. $($Record journal entries in the order presented in the problem.

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