The beginning balance sheet of Text Source Co. included an $860,000 investment in Ethan stock (40% ownership, Text has significant influence over Ethan). During the year, Text Source completed the following investment transactions:

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(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 8,000 shares at $8 per share of Jack Software common stock as a long-term equity investment, representing 3% ownership, no significant influence. Date Mar. 3 Accounts and Explanation Debit Credit Clear all Check answer

The beginning balance sheet of Text Source Co. included an $860,000 investrnent in Ethan stock (40\% ownership, Text has significant influence over Ethan). During the year, Text Source completed the following investment transactions: (Click the icon to view the transactions.) Read the reguirements. Requirement 1. Journalize the transactions for the year of Text Source. (Record debits first, then credits Select the explanation on the last line of the joumal entry table 19 no entry is required, select "No entry required" on the first line of the Accounts and Explanation colurnh and leave the romaining celis blank:) Mar. 3: Purchased 8,000 shares at \$8 per share of Jack Software common stock as a long-term equity investment, representing 3\% ownership, no significant Requirements 1. Journalize the transactions for the year of Text Source. 2. Post transactions to T-accounts to determine the December 31,2018 , balances related to the investment and investment income accounts. 3. Prepare Text Source's partial balance sheet at December 31,2018 , from your answers in Requirement 2. 4. Where is the unrealized holding gain or loss associated with the Jack stock reported