uan Corp. manufactures construction equipment. Feb. Mar. June July 2 Purchased for cash 3,100 shares of Celeste Inc.'s common stock for $32 per share plus a $124 brokerage commission. Celeste Inc. has 80,000 shares of common stock outstanding. 6 Received dividends of $0.45 per share on Celeste Inc. stock. 7 Purchased 1,400 shares of Celeste Inc. stock for $38 per 26 Sept. 25 Dec. 31 Required: share plus a $56 brokerage commission. Sold 4,000 shares of Celeste Inc. stock for $41 per share less a $100 brokerage commission. Quan assumes that the first investments purchased are the first investments sold. Received dividends of $0.62 per share on Celeste Inc. stock. At the end of the accounting period, the fair value of the remaining 500 shares of Celeste Inc. stock was $20,720. Journalize the entries to record the above selected equity investment transactions completed by Quan during a recent year using the fair value method. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Round your intermediate calculations to two decimal places. When required, round final answers to the nearest dollar. CHART OF ACCOUNTS Quan Corp. General Ledger ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 121 Allowance for Doubtful Accounts 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies REVENUE 410 Sales 611 Interest Revenue 612 Dividend Revenue 621 Income of Celeste Inc. 631 Gain on Sale of Investments 641 Unrealized Gain on Equity Investments 151 Prepaid Insurance 161 Investments Celeste Inc. Stock 165 Valuation Allowance for Equity Investments 166 Valuation Allowance for Available-for-Sale Investments 181 Land 191 Store Equipment 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 194 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 231 Interest Payable 241 Salaries Payable 251 Sales Tax Payable EQUITY 311 Common Stock 312 Paid-in Capital in Excess of Par-Common Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Treasury Stock 332 Paid-In Capital from Sale of Treasury Stock 340 Retained Eamings 350 Unrealized Gain (Loss) on Available-for-Sale Investments 351 Cash Dividends 352 Stock Dividends EXPENSES 511 Cost of Merchandise Sold 512 Bad Debt Expense 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Repairs Expense 534 Seling Expenses 535 Rent Expense 536 Insurance Expense 537 Office Supplies Expense 538 Store Supplies Expense 561 Depreciation Expense-Store Equipment 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense 721 Loss of Celeste Inc. 731 Loss on Sale of investments 741 Unnesized Loss on Equity Investments JOURNAL DATE 1 DESCRIPTION POST. REF DEBIT CREDIT ASSETS ACCOUNTING F LIABILITIE Feb. 2 Investments in share 99,200.00 2 Commission 124.00 Cash 99,324.00 4 Mar 6 Cash 53,200.00 S Dividend 56.00 Jun 7 G 53.256.00 G 163,900.00 G 30,500.00 6 133,400.00 10 G 310.00 11 G 310.00 12 G 1,720.00 13 G 1,720.00