During December of the current year, James Company acquired some of the 50,000 outstanding shares of the common stock, par $12, of Andrew Corporation as a long-term passive investment. The accounting period for both companies ends December 31. Give the journal entries for James Company for each of the following transactions that occurred during the current year:

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Dec. 2 Dec. 15 Dec. 31 Purchased 6,250 shares of Andrew common stock at $15 per share. Andrew Corporation declared a cash dividend of $2 per share. Determined the current market price of Andrew stock to be $12 per share.