Required information The following information applies to the questions displayed below. On July 12, 2018, Rossow Corporation purchased 1,300 shares of Reimer Company for $52,000. The following information applies to the fair value of Reimer Company: Per Share 12/31/2018 12/31/2019 12/31/2020 $44 43 35 Reimer Company declares and pays cash dividends of $3 per share on May 1 of each year. Journal entry worksheet 2 3 4 6 Record the purchase of 1,300 shares of Reimer Company for $52,000. The company reports the purchase as marketable equity securities Note: Enter debits before credits. Date General Journal Debit Credit July 12, 2018 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 6 Record the valuation adjustment, if required, assuming the fair value of Reimer Company's stock on December 31, 2018 is $44 per share. Note: Enter debits before credits Date General Journal Debit Credit December 31, 2018 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 6 Record the receipt of cash dividends on May 1, 2019 of $3 per share. Note: Enter debits before credits. Date General Journal Debit Credit May 01, 2019 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 6 Record the valuation adjustment, if required, assuming the fair value of Reimer Company's stock on December 31, 2019 is $43 per share. Note: Enter debits before credits. Debit Credit Date General Journal December 31, 2019 View general journal Record entry Clear entry Journal entry worksheet 2 3 4 6 Record the receipt of cash dividends on May 1, 2020 of $3 per share. Note: Enter debits before credits. Date General Journal Debit Credit May 01, 2020 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 6 Record the valuation adjustment, if required, assuming the fair value of Reimer Company's stock on December 31, 2020 is $35 per share. Note: Enter debits before credits. Date Debit Credit General Journal December 31, 2020 View general journal Record entry Clear entry