Suppose Calgon Corp. completed the following investment transactions in 2020 and 2021 2020 Nov 6 Purchased 2.800 McGrath Corporation common shares for $84,000 Calgon plans to sell the shares in the near Mure to meet its operating cash flow requirements. Brokerage commissions on the purchase were $870 30 Received a quarterly cash dividend of $2.00 per share on the McGrath Corporation shares Dec 31 Current far value of the McGrath common shares is $86,800. This is year-end for Caigon Corp. 2021 Jan. 20 Sold the McGrath Corporation shares for $88,800, less brokerage commissions on the sale of $970 Required Bod i Requirements iny col 1. Make the entries to record Calgon Corp.'s investment transactions. 2. Show how Calgon Corp. would report its investment in the McGrath Corporation shares on the balance sheet at December 31, 2020. s. Print Done Requirement 1. Make the entries to record Caigon Corp's invested transactions November 6, 2020. Purchased 2.800 McGrath Corporation common shares for $84.000 Calgon plans to set the shares in the nature to meet is operating cash fow requirements Brokerage comes on the purchase were $870 (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date Accounts Debt Credit Novo November 30, 2020. Received a quarterly cash dividend of $2.00 per share on the McGrath Corporation shares. Journal Entry Date Accounts Debit Credit 2020 Nov. 30 December 31, 2020 Current fair value of the McGrath common shares is $86,800. This is year-end for Calgon Corp. Journal Entry Accounts Date Debit Credit 2020 Dec. 31 January 20, 2021. Sold the McGrath Corporation shares for $88,800, less commissions on the sale of $970. Journal Entry Date Accounts Debit Credit 2021 Jan. 20 Requirement 2. Show how Calgon Corp. would report its investment in the McGrath Corporation shares on the balance sheet at December 31, 2020 Calgon Corp. Balance Sheet (partial) December 31, 2020 Assets Current assets