Rowan Company purchases 300 common shares (40 %) of JBI Corporation as a long-term investment for $520,000 cash on January 1. JBI paid $6,500 in total cash dividends on November 1 and reported net income of $130,000 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 Decembe year-end adjustment for its share of JBI net income. View transaction list Journal entry worksheet < 1 2 3 Record the purchase of JBI shares. Note: Enter debits before credits. Date January 01 General Journal Debit Credit Record entry Clear entry View general journal