Requirement 2. Journalize the 2016 transactions. Explanations are not required. ?(Record debits? first, then credits. Exclude explanations from journal entries. If no entry is? required, select? "No entry? required" on the first line of the Accounts column and leave the remaining cells? blank.)

Jul.? 2: Purchased 4,400 shares of Lexi?,Inc. common stock at $11.00 per share. Ship Your Way holds the stock in its active trading account and plans to sell the stock within three? months, when the company will need the cash for normal operations.

Aug.? 21: Received a cash dividend of $0.90per share on theLexistock investment.

Sep.? 16: Sold the Lexi stock for$15.50per share.

Oct.? 8: Purchased 100shares ofVoltonstock at $24.00 per share. The stock is held in the active trading account as Ship Your Way plans to hold the Volton stock for less than five months.

Dec.? 31: olton ?stock's current market price is $7.00 per share.

Requirement 3. Prepare? T-accounts for the investment assets and show how to report the investments on Ship Your Way?'s balance sheet at December? 31,2016.

excess cash and invested in securities as follows: (Click the icon to view the transactions.) Requirements 1. Classify each of the investments made during 2016 Assume the investments represent less than 20% of ownership of outstanding voting stock ) 2. Journalize the 2016 transactions. Explanations are not required 3. Prepare T-accounts for the investment assets, and show how to report the investments on Ship Your Way's balance sheet at December 31, 2016. Requirement 1, Classify each of the investments made during 2016. (Assume the investments represent less than 20% of ownership of outstanding voting stock.)