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Review the following long-term, equity security transactions of Cullen Department Stores: (Click the icon to view the transactions.) Requirement 1. Journalize the long-term, equity security

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Review the following long-term, equity security transactions of Cullen Department Stores: (Click the icon to view the transactions.) Requirement 1. Journalize the long-term, equity security transactions of Cullen Department Stores RE a. Purchased 470 shares of Potter Fine Foods common stock at $34 per share (less than 5% of Potter's outstanding stock), with the intent of holding the stock for the indefinite future. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Accounts Debit Credit a. X More Info a. Purchased 470 shares of Potter Fine Foods common stock at $34 per share (less than 5% of Potter's outstanding stock), with the intent of holding the stock for the indefinite future. b. Received a cash dividend of $1.00 per share on the Potter investment c. At year-end, adjusted the investment account to fair value of $41 per share. d. Sold the Potter stock for $26 per share

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