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Brief Exercise 9-3 Culver Corporation purchased 700 common shares of Ditch Inc. for $12,600 on February 21. Culver paid a 1% commission on the share purchase and, because the shares were not publicly traded, decided to account for them following the cost model. On June 30, Ditch declared and paid a cash dividend of $1.20 per share. Prepare Culver Corporation's journal entry to record the purchase of the investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit February 21 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare Culver Corporation's journal entry to record the dividends received. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit June 30 Prepare Culver Corporation's journal entry to record the sale of the Ditch Inc. shares in early January the following year for $14,400 less a 1% commission paid on the sale. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit