Rowan Co. purchases 400 common shares (40%) of JBI Corp. as a long-term investment for $620,000 cash on July 1. JBI Corp. paid $14,000 in total cash dividends on November 1 and reported net income of $280,000 for the year, (1)-(3) Prepare Rowan's entries to record the purchase of JBI shares, the receipt of its share of JBI dividends and the December 31 year-end adjustment for its share of JBI net income. View transaction list Journal entry worksheet Record the purchase of JBI shares. Note: Enter debits before credits Date General Journal Dobit Credit Jul 01 Record entry Clear entry View general Journal