P8-58A The beginning balance sheet of Segui Corporation included the following: Equity-method Investment in NEW Software. . . . . . . . $615,000 Segui Corporation completed the following investment transactions during the year: More Info Mar 16 Purchased 1,600 shares of Littleton, Inc., common stock as a long-term available-for-sale Investment, paying $ 13.00 per share. May 21 Received cash dividend of $ 0.80 per share on the Littleton investment. Aug 17 Received cash dividend of $ 65 comma 000 from NEW Software Dec 31 Received annual reports from NEW Software; net income for the year was $ 612 000. Of this amount Segui's proportion is 26 %. At year-end, the fair values of Segui Corporation's investments are as follows: Littleton, $ 25,700; NEW, $726,000. Requirement: 1. Record the transactions in the journal of Segui Corporation. 2. Post entries to the T-account for Equity-method Investment in NEW Software, and determine its balance at December 31. 3. Show how to report the Investment in Available-for-Sale Securities and the Equity-method Investment in NEW Software accounts on Segui Corporation's balance sheet at December 31. Requirement 1. Record the transactions in the journal of Segui Corporation. (Record debits first, then credits. Exclude explanations from any journal entries. Abbreviation used: AFSS = available-for-sale securities. The company uses an allowance account to adjust available-for-sale investments to fair value.) Journal Entry Date Accounts Debit Credit Mar 16 May 21 August 17