On February $22,$ Trangle Corporation acquired $3,300$ shares of the $115,000$ outstanding common stock of Jupiter Co$,$ at $$29\mathrm{.}80$ plus commission charges of $$660.$ On June $1,$ cash dividend of $$1\mathrm{.}10$ per share was received. On November $12,1,100$ shares were sold at $$36$ less commission charges of $$132.$ At the end of the accounting period on December $31,$ the fair value of the remaining $2,200$ shares of Jupiter Company's stock was $$30\mathrm{.}50$ per share.

a$.$ Using the cost method, Jounalize the entry for the purchase of stock. If an amount box does not require an entry, leave it blank.

Feb $22.$

Cash Gain on Sale of Investment interest

Receivable Investments

Jupiter Co Stockloss on Sale of Investment Cash

Cash Dividend

Receivable Interest

Receivable Investments

Junipter Co$.$ Stock Notes

Receivble Cash

b$.$ Using the

cost method, journalize the entry for the purchase of stock.

June $1$

Cash

Cash Dividensd

Revenue Dividends

Receivable Notes

Receivable Cash

Cash

Cash Dividend

Revenue Dividends

Receivable Notes

Receivable Dividends

Dividend Revene

c$.$ Using the Recost, method, journalize the entry for the sale of $1,100$ shares. If an amount box does not require an entry, leave it blank.

Nov $12,$

CashGain of Sale of Investment interest

investment interest

Receivable investments

Jupiter Co$.$ StockLoss of Sales of investment cash

Cash

cash dividend

Revenue Dividends

Receivable Gain on Sale of Investments

Gain on Sales of investment

Cash

Cash Dividends

Dividends Receivable interest

Receivable investments Jupiter Co$.$

Stockinvestments of Jupiter Co$.$ Stock

c$.$ When recording the cash received, consider the commission. To complete the entry determine and gain or loss to be recorded.

d$.$ Using the cost method, journalize the entry for the charge in fair value. If the amount box does not require an entry, leave blank.

Dec $31$

Cash Dividend

Revenue Interest

Receivable Unrealized

Gain on Equity

Investments Valuation

Allowance for Equity

Investments Valuation

Allowance for Equity Investment