The balance sheet of Eastern Developments Corp. at the start of the year included these balances: Short-term investments $ 265,000 Investments in significantly influenced and other companies 2,600,000 Assume the company completed the following investment transactions during 2020 (Click the icon to view list of transactions.) Required 0 Transactions M fage come M Mar 3 Purchased 9,500 common shares as a short-term investment, paying $28.00 per share, plus brokerage commission of $700. 4 Purchased additional shares in a company that is significantly influenced by Eastern Developments Corp. at a cost of $680,000, plus brokerage commission of $5,700 May 14 Received semi-annual cash dividend of $1.80 per share on the short-term investment purchased March 3. Jun. 15 Received cash dividend of $100,000 from a significantly influenced company. Aug. 28 Sold the short-term investment (purchased on March 3) for $25.50 per share, less brokerage commission of $750. Oct. 24 Purchased other short-term investments for $345.000, plus brokerage commission of $625. Dec. 15 Received a cash dividend of $70,000 from a significantly influenced company. 31 Received annual reports from significantly influenced companies. Their total net income for the year was $1.500,000. Of this amount. Eastern Developments Corp's proportion is 30 percent. Corp. at Hit M Print Done H Type here to search o e Requirement 1. Record the transactions in the general journal of Eastern Developments Corp. Mar. 3. Purchased 9,500 common shares as a short-term investment, paying $28.00 per share, plus brokerage commission Journal Entry Date Accounts Debit Credit Mar. Mar. 4. Purchased additional shares in a company that is significantly influenced by Eastern Developments Corp. at a cost of $ Date Joumal Entry Accounts Debit Credit Mar 4 Choose from any list or enter any number in the input fields and then continue to the next question Type here to search