Prepare Riley Company's journal entries to record the following transactions for the current year. Apri1 18 Purchases 320 combon shares of XLT Company as a short-term investment at a cost of $44 per share. With this stock investment, Riley has an insigpificant influence over Xi %. May 30 Receiven $1.20 per ehare trom XLT in dividends. Journal entry worksheet Purchases 320 common shares of XLT Company as a short-term investment at a cost of $44 per share, With this stock investment, Riley has an insignificant influence over XLT. Note: Enter debits before credits