On March 1, 2018, Arbor Company invests $20,000 in Fruits, Inc. stock. Fruits pays Arbor a $500 dividend on October 1, 2018. Arbor sells the Fruits's stock on October 31, 2018, for $20,550. Assume the investment is categorized as a short-term equity investment and Arbor Company does not have significant influence over Fruits, Inc. Read the requirements. Requirement 1. Journalize the transactions for Arbor's investment in Fruits' stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing Arbor's initial investment in Fruits, Inc., stock. Date Accounts and Explanation Debit Credit i Requirements Mar. 1 1. Journalize the transactions for Arbor's investment in Fruits's stock. 2. What was the net effect of the investment on Arbor's net income for the year ended December 31, 2018? Next, journalize Arbor's receipt of the October 1 dividend. Print Done Date Accounts and Explanation Debit Credit Oct. 1 Now journalize Arbor's sale of the Fruits, Inc., stock on October 31. Date Accounts and Explanation Debit Credit Oct. 31 Requirement 2. What was the net effect of the investment on Arbor's net income for the year ended December 31, 2018? Arbor's net income for the year has by $ On March 1, 2018 Arbor Company invests $20.000 in Fruits Inc. stock Fruits nays Arb short-term equity nce ov Read the require Available-for-Sale Debt Investments Cash Next, journalize Dividend Revenue Date D Equity Investments Oct. 1 Fair Value Adjustment-Available-for-Sale Fair Value AdjustmentTrading Gain on Disposal Held-to-Maturity Debt Investments Interest Revenue Loss on Disposal Trading Debt Investments Now journalize A Unrealized Holding LossAvailable-for-Sale Date D Unrealized Holding LossTrading Oct. 31