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Exercise H-03 Cullumber Inc. had these transactions pertaining to investments in common stock: Jan. 1...

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Exercise H-03 Cullumber Inc. had these transactions pertaining to investments in common stock: Jan. 1 Purchased 1,120 shares of Gate Corporation common stock (5% of outstanding shares) for $58,338 cash. July 1 Received a cash dividend of $8 per share. Dec. 1 Sold 880 shares of Gate Corporation common stock for $51,078 cash. 31 Received a cash dividend of $7 per share. any. Record journal entr Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

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