Your answer is partially correct. Sunland Inc. had these transactions pertaining to investments in common stock: Purchased 1,095 shares of Gate Corporation common stock (5% of outstanding shares) for $58,400 cash. Received a cash dividend of $7 per share. Jan. 1 July 1 Dec. 1 Sold 879 shares of Gate Corporation common stock for $51,868 cash. 31 Received a cash dividend of $8 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.) Date Account Titles and Explanation Jan. 1 Stock Investments Cash July 1 Cash Dividend Revenue Dec. 1 Cash Stock Investments Stock Investments Dec. 31 Dividend Revenue Gain on Sale of Stock Investments eTextbook and Media List of Accounts Save for Later Debit 53 7665 51868 216 Credit 53 7665 43950 216 7918 Attempts: 3 of 5 used Submit Answer