Stein Company had the given transactions pertaining to its short-term stock investments. Stein owns more than 20% of the Pine Company stock and has noteworthy affect in decision-making.
Jan 1: Purchased 50,000 shares of Pine Company stock as the investment for $499,750 cash plus brokerage fees of $250.
June 1: Received cash dividends of $0.25 per share on Pine Company stock investment.
Sept 15: Sold 2,000 shares of the Pine Company stock investment for $220,100 less brokerage fees of $100.
Journalize the transactions.