5. Present journal entries to record the following selected transactions of Masterson Corporation:(a) Purchased 600 shares of the 100,00 shares outstanding $10 par common shares of Dankin Corporation for $5,100(b) Purchased 3500 shares of the 10,000 shares no par common shares of Ramon Co. for $45,700. The investment was accounted for by the EQUITY METHOD(c) Received a cast dvidend for $1 per share on the Dankin Corporation stock acquired in (a)(d) Reveived a cash dividend of $2 par share on the Ramon Co. stock acquired in (b)(e) Sold 100 share s of the Dankin Corporation shares acquired in (a) for $2,100(f) Recorded the appropriate share of Ramon Company’s net income of $50,000. The stock was acquired in (b). "
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