The beginning balance sheet of Desk Source Co. included an$ 850,000 investment in Parson stock (20% ownership).

Requirement 1. Journalize the transactions for the year of DeskSource. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.)

Mar. 3: Purchased 9,000 shares at $ 9 per share of Andy Software common stock as a long-term, available-for-sale investment, representing 7 % ownership.

Date			Accounts and Explanation	Debit	Credit
Mar. 3

May 15: Received a cash dividend of $ 0.57per share on the Andy investment.

Date			Accounts and Explanation	Debit	Credit
May 15

Dec. 15: Received a cash dividend of $ 80,000 from Parson investment.

Date			Accounts and Explanation	Debit	Credit
Dec. 15

Dec. 31: Received Parson's annual report showing $ 300,000 of net income.

Date			Accounts and Explanation	Debit	Credit
Dec. 31

Dec. 31: Received Andy's annual report showing $ 500,000 of net income for the year.

Date			Accounts and Explanation	Debit	Credit
Dec. 31

Dec. 31: Parson's stock fair value at year-end was $ 830,000.

Date			Accounts and Explanation	Debit	Credit
Dec. 31

Dec. 31:Andy's common stock fair value at year-end was $ 13 per share.

Date			Accounts and Explanation	Debit	Credit
Dec. 31