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 $18,200. The following information applies to the fair value of Reimer Company: Per Share 12/31/2018 12/31/2019 12/31/2020 $21 15 Reimer Company declares and pays cash dividends of $3 per share on May 1 of each year Required 1. Prepare journal entries to record the facts in the case, assuming Rossow owns less than 10 percent of Reimer's stock. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 2 4 6 Record the purchase of 1,300 shares of Reimer Company for $18,200. The company reports the purchase as marketable equity securities Note: Enter debits before credits. Credit Date General Journal Debit July 12, 2018 Record entry Clear entry View general journal Journal entry worksheet 2 3 6 4 Record the valuation adjustment, if required, assuming the fair value of Reimer Company's stock on December 31, 2018 is $21 per share. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2018 View general journal Record entry Clear entry Journal entry worksheet 2 4 6 Record the receipt of cash dividends on May 1, 2019 of $3 per share. Note: Enter debits before credits. Debit Credit Date General Journal May 01, 2019 View general journal Record entry Clear entry Journal entry worksheet 3 5 2 4 6 Record the valuation adjustment, if required, assuming the fair value of Reimer Company's stock on December 31, 2019 is $15 per share. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2019 Record entry Clear entry View general journal Journal entry worksheet 2 4 6 3 5 Record the receipt of cash dividends on May 1, 2020 of $3 per share. Note: Enter debits before credits. Debit Credit Date General Journal May 01, 2020 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 6 5 Record the valuation adjustment, if required, assuming the fair value of Reimer Company's stock on December 31, 2020 is $7 per share. Note: Enter debits before credits. Credit Date General Journal Debit December 31, 2020 Record entry Clear entry View general journal