Required information (The following information applies to the questions displayed below.) Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short- term stock investments with insignificant influence. Apr. 16 Purchased 10,000 shares of Gem Co. stock at $25.75 per share. July 7 Purchased 5,000 shares of PepsiCo stock at $46.00 per share. 20 Purchased 2,500 shares of Xerox stock at $16.00 per share. Aug. 15 Received a(n) $0.85 per share cash dividend on the Gem Co. stock. 28 Sold 5,000 shares of Gem Co. stock at $32.50 per share. Oct. 1 Received a $1.60 per share cash dividend on the PepsiCo shares Dec. 15 Received a $1.00 per share cash dividend on the remaining Gem Co. shares. 31 Received a $1.00 per share cash dividend on the PepsiCo shares. Required: 1. Prepare journal entries to record the preceding transactions and events. No Date Debit Credit 1 Apr. 16 General Journal Debt investments - AFS Cash x 257,500 257,500 2 Jul. 7 x 230,000 Debt investments - AFS Cash 230,000