Wildhorse Inc. had these transactions pertaining to investments in common stock: Jan. 1 Purchased 1,245 shares of Gate Corporation common stock (5\% of outstanding shares) for $57,270 cash. July 1 Received a cash dividend of $7 per share. Dec. 1 Sold 950 shares of Gate Corporation common stock for $51,163 cash. 31 Received a cash dividend of $7 per share. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)