PepsiCo reports short-term investments on its balance sheet. Suppose a division of PepsiCo completed the following short-term investment transactions during 20X8:

Required
Prepare T-accounts for Cash; Short-Term Investment; Dividend Revenue; Unrealized Loss on Investment or Unrealized Gain on Investment; and Gain on Sale of Investment. Show the effects of PepsiCo's investment transactions. Start with a cash balance of $55,000; all the other accounts start at zero.

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20X8 Nov. 6 Purchased 1,000 shares of Starbucks stock for $35,000. PepsiCo plans to sell the stock at a profit in the near future. Received a cash dividend of $0.85 per share on the Starbucks stock. Adjusted the investment in Starbucks stock. Current market value is $33,000. Pepsi Co still plans to sell the stock in early 20X9. 27 Dec. 31 20X9 Jan. 11 Sold the Starbucks stock for $36,000.