Sheridan Inc. had the following transactions pertaining to investments in common stock. Jan. 1 Purchased 4,900 shares of Escalante Corporation common stock (5\%) for $297,920 cash. July 1 Received a cash dividend of $5 per share. Dec. 1 Sold 980 shares of Escalante Corporation common stock for $62,720 cash. Dec. 31 Received a cash dividend of $5 per share. Journalize the transactions. (List all debit entries before credit entries. Credit occount titles are automatically indented when ampunt is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry' for the account titles and enter 0 for the amounts.)