6 Saved Help Save & Exit Submit Rowan Co. purchases 200 common shares (40%) of JBI Corp. as a long-term investment for $510,000 cash on July 1. JBI Corp. paid $5,750 in total cash dividends on November 1 and reported net income of $115,000 for the year. (1) - (3) Prepare Rowan's entries to record the purchase of JBI shares, the receipt of its share of JBI dividends and the December 31 year-end adjustment for its share of JBI net income. View transaction list Journal entry worksheet 1 2 3 Record the purchase of JBI shares. Note: Enter debits before credits. Debit Credit General Journal Date Jul 01