Cosmos Corporation Had the Following Long-Term Investment Transactions $\quad$ Purchased 5,000 Shares of Visual, Inc

Essay

Cosmos Corporation had the following long-term investment transactions.
Jan 2 $\quad$ Purchased 5,000 shares of Visual, Inc. for $\$ 42$ per share plus $\$ 7,000$ in fees
$\quad$$\quad$$\quad$ and commission. These shares represent a $35 \%$ ownership of Visual.
Oct 15 $\quad$ Received Visual, Inc. cash dividend of $\$ 2$ per share.
Dec 31 $\quad$ Visual reported a net loss of $\$ 66,000$ for the year. Prepare the journal entries Cosmos Corporation should record for these transactions and events.