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Quan Corp. manufactures construction equipment. Feb. 2 Purchased for cash 5,200 shares of Celeste Inc.s common stock for $19 per share plus a $120 brokerage commission. Celeste Inc. has 80,000 shares of common stock outstanding. Mar. 6 Received dividends of $0.25 per share on Celeste Inc. stock. June 7 Purchased 2,000 shares of Celeste Inc. stock for $25 per share plus a $115 brokerage commission. July 26 Sold 6,200 shares of Celeste Inc. stock for $38 per share less a $105 brokerage commission. Quan assumes that the first investments purchased are the first investments sold. Sept. 25 Received dividends of $0.50 per share on Celeste Inc. stock. Dec. 31 At the end of the accounting period, the fair value of the remaining 1,000 shares of Celeste Inc. stock was $26,560. Required: 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.

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