2 Exercise D-2 Record equity Investments using the fair value method (LO D-2) 2 points First National Bank buys and sells securities. The company's fiscal year ends on December 31. The following selected transactions relating to First National's trading account occurred during the year. December 2e Purchases 300,eee shares in Classic Computers common stock for $1,500,000 ($5 per share). December 28 Receives cash dividends of $6,090 from the Classic Computers shares. December 31 The fair value of Classic Computers' stock is $4.80 per share. Required: 1. Record each of these transactions, including an adjustment on December 31 for the investment's fair value, if appropriate. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the flrst account field.) eBook Print View transaction list References Journal entry worksheet Record the receipt of cash dividends. Note: Enter debits before credits. Date General Journal Debit Credit December 28 Record entry Clear entry View general journal Journal entry worksheet