QS 1511 (Algo) Accounting for stock investments LO P4 Prepare Riley Company's journal entries to record the following transactions for the current year. April 18 Purchases 490 common shares of XLT Company as a short-term investment at a cost of $61 per share. With this stock investment, Riley has an insignificant influence over XLT. May 30 Receives $1.80 per share from XLT in dividends. Purchases 490 common shares of XLT Company as a short-term investment at a cost of $61 per share. With this stock investment, Riley has an insignificant influence over XLT. Note: Enter debits before credits. Receives $1.80 per share from XLT in dividends. Note: Enter debits before credits