On February 1, 2024, Shrub Company invests $11,000 in Iris, Inc, stock. Iris pays Shruba 5600 dividend on July 1, 2024. Shrub sells the Iris' stock on July 31, 2024 for $11.400. Assume the investment is categorized as a short-term equity investment and Shrub Company does not have significant influence over Iris, Inc. Read the requirements N Requirement 1. Journalize the transactions for Shrub's investment in Iris' stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) D Begin by journalizing Shrub's initial investment in Iris, Inc., stock. Date Accounts and Explanation Debit Credit Feb. 1 A T 2 Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All 3 parts remaining Requirements - X 1. Journalize the transactions for Shrub's investment in Iris' stock. 2. What was the net effect of the investment on Shrub's net income for the year ended December 31, 2024? Print Done