On February 22, Triangle Corporation acquired 7,500 shares of the 210,000 outstanding common stock of Jupiter Co. at $42 plus commission charges of $150. On June 1, a cash dividend of $2.35 per share was received. On November 12, 3,200 shares were sold at $50 less commission charges of $170. At the end of the accounting period on December 31, the fair value of the remaining 4,300 shares of Jupiter Companys stock was $42.52 per share.

Required:

Using the cost method, journalize the entries for (a) the purchase of stock, (b) the receipt of dividends, (c) the sale of 3,200 shares, and (d) the change in fair value. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar.