Question V {18 marks) Two independent parts of this question: Part A Acorn, Corp. had the following long-term investment transactions. Jan. 2 Purchased 5,000 shares of Seed, Inc. for $40 per share plus $6,195 in fees and commission. These shares represent a 30% ownership of Seed. Sept. 20 Seed, Inc. declared a $1.50 per share cash dividend to shareholders of record on October 1, payable October 15. Oct. 15 Received Seed, Inc.. cash dividend. Dec. 31 Seed, Inc. reported a net loss of $66,000 for the year. Required Prepare the journal entries Acorn Corp. should record for these transactions. Part B On October 31, Blue Moon received dividends of $0.55 per share from its short-term investment in 1,400 Red Sun Corp. common shares. Blue Moon has no significant influence on Red Sun Corp. Required Prepare the journal entry to record the receipt of the dividends