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Prepare the required journal entries (on the Investments working paper) for Grass Cutting Inc. to record the following investment transactions for the years 2019 and

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Prepare the required journal entries (on the Investments working paper) for Grass Cutting Inc. to record the following investment transactions for the years 2019 and 2020. 2019 June 1 Grass Cutting Inc. purchased 15,000 common shares of Lawns Ltd, as a long-term investment for a total of $254,800. This represents 30% ownership in Lawns Ltd. and results in Grass Cutting Inc, having significant influence over Lawns Ltd. Oct. 1 Grass Cutting Inc. received a $5.35 per share cash dividend from Lawns Ltd, Dec. 31 Lawns Ltd. reported net income of $185,000 for the year. 2020 Jan 10 Grass Cutting Inc. sold 3,000 of the Lawns Ltd. shares for $102,050. Previous NG

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