Quan Corp. manufactures construction equipment Feb 2 Mar 6 June 7 July 26 Purchased for cash 3,100 shares of Celeste inc's common stock for $32 per share plus a 5124 brokerage commission. Celeste Inc. has 80,000 shares of common stock outstanding Received dividends of $0.45 per share on Celeste in stock Purchased 1,400 shares of Celeste inc stock for $38 per share plus a 556 brokerage commission Sold 4,000 shares of Celeste in stock for 541 per share less a $100 brokerage commission. Quan assumes that the first investments purchased are the first investments sold Received dividends of 50.62 per share on Celeste in stock Al the end of the accounting period, the fair value of the remaining 500 shares of Celeste in stock was $20,720 Sept 25 Dec 31 Required: Journalize the entries to record the above selected equity investment transactions completed by Quan during a recent year using the far value method. Refer to the chart of accounts for the exact wording of the account titles CNOWjournals do not use lines for oumal explanations Every line on a journal page is used for deo or credit entres CNOWjoumals www.automacally indente credit entry when a credit amount is entered Round your intermediare calculations to two decimal places. When required, round final answers to the nearest dollar. CHART OF ACCOUNTS Qua Corp. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 611 Interest Revenue 120 Accounts Receivable 612 Dividend Revenue 121 Allowance for Doubtful Accounts 621 Income of Celeste Inc 131 Notes Receivable 631 Gain on Sale of investments 641 Unrealized Gain on Equity Investments 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies EXPENSES 146 Store Supplies 511 Cost of Merchandise Sold 151 Prepaid Insurance 512 Bad Debt Expense 161 Investments-Celeste ing Stock 515 Credit Card Expense 165 Valuation Allowance for Equity Investments 518 Cash Short and Over 188 Valuation Arowance for available for Sale Investments 520 Salaries Expense 534 Advertising Expense 181 Land 532 Delivery Expense 533 Repairs Expense 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 534 Selling Expenses 535 Rent Expense 536 Insurance Expense LIABILITIES 537 Office Supplies Expense 210 Accounts Payable 221 Notes Payable 538 Store Supplies Expense 561 Depreciation Expense-Store Equipment 562 Depreciation Expense-Office Equipment 231 Interest Payable 241 Salaries Payable 590 Miscellaneous Expense 251 Sales Tax Payable 710 Interest Expense 721 Loss of Celeste Inc 731 Loss on Sale of Investments 741 Unrealized Loss on Equity Investmlts EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 321 Preferred Stock 322 Pald-in Capital in Excess of Par-Preferred Stock 331 Treasury Stock 1832 Pald in Capital from Sale of Treasury Stock 340 Retained Earnings 350 Unrealized Gain (Loss) on Available-for-Sale Investments 351 Cash Dividends 352 Stock Dividends Joumalize the entries to record the transactions. Refer to the chart of accounts for the exact wording of the accountitles CNOW journals do not use Ines for journal explanations. Every line on a journal page is used for debitor credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered Row your intermediate calculations to two decimal places. When required, round final answers to the nearest dollar JURNAL ACCUANTINGEN LUTE DESCRIPTION POST RO TEET 1 CREDIT ASSES EOL 7 8 10 11 11