On February 1, 2024, Poppy Company invests $17,000 in Lilacs, Inc. stock. Lilacs pays Poppy a $350 dividend on July 1, 2024. Poppy sells the Lilacs' stock on July 31, 2024, for $17,100. Assume the investment is categorized as a short-term equity investment and Poppy Company does not have significant influence over Lilacs, Inc. Read the requirements Requirement 1. Journalize the transactions for Poppy's investment in Lilacs' stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing Poppy's initial investment in Lilacs, Inc., stock. Date Accounts and Explanation Debit Credit Feb. 1