On January 1, 2024, Fern Company invests $18,000 in Pears, Inc. stock. Pears pays Forn a $1,100 dividend on August 1, 2024. Fer sells the Pears' stock on August 31, 2024, for $18,300. Assume the investment is categorized as a short-term equity investment and For Company does not have significant influence over Pears, Inc. Read the requirements. Requirement 1. Journalize the transactions for Fern's investment in Pears' stock (Record debits first, then credits. Select the explanation on the last line of the Journal entry table.) Begin by journalizing Fern's initial investment in Pears, Inc., stock. Date Debit Credit Accounts and Explanation Jan 1 Requirements X i 1. Journalize the transactions for Fern's investment in Pears' stock. 2. What was the net effect of the investment on Fern's net income for the year ended December 31, 2024? Print Done