! Required information [The following information applies to the questions displayed below.] a. On March 22, purchased 750 shares of RPI Company stock at $15 per share. Duke's stock investment results in it having an insignificant influence over RPI. b. On July 1, received a $4 per share cash dividend on the RPI stock purchased in part a. c. On October 8, sold 375 shares of RPI stock for $25 per share. Prepare journal entries to record the given transactions involving the short-term stock investments of Duke Company, all of which occurred during the current year. View transaction list View journal entry worksheet No Transaction General Journal 1 a Fair value adjustment - Stock Cash i 2 b. Cash Dividend revenue 3 C. Cash Fair value adjustment - Stock Gain on sale of stock investments Debit Credit 11,250 11,250 3,000 3,000 9.375 5,624 3,751