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On January 1, 2020, Fisher Corporation purchased 40 percent (88,000 shares) of the common stock of Bowden, Inc., for $992,000 in cash and began to use the equity method for the investment. The price paid represented a $66,000 payment in excess of the book value of Fisher's share of Bowden's underlying net assets. Fisher was willing to make this extra payment because of a recently developed patent held by Bowden with a 15-year remaining life. All other assets were considered appropriately valued on Bowden's books.

Bowden declares and pays a $94,000 cash dividend to its stockholders each year on September 15. Bowden reported net income of $396,000 in 2020 and $346,000 in 2021. Each income figure was earned evenly throughout its respective years.

On July 1, 2021, Fisher sold 10 percent (22,000 shares) of Bowden's outstanding shares for $338,000 in cash. Although it sold this interest, Fisher maintained the ability to significantly influence Bowden's decision-making process.

Prepare the journal entries for Fisher for the years of 2020 and 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)

I need assistance with 3,6,7&8

No General Journal Credit Date 01/01/2020 Debit 992.000 1 Investment in Bowden Cash os 992,000 2 09/15/2020 Cash 37.600 Investment in Bowden 37.800 3 12/31/2020 Investment in Bowden Equity in investee income 12/31/2020 4,400 Equity in investee income Investment in Bowden olol 4.400 5 07/01/2021 69.200 Investment in Bowden Equity in investee income OO 69.200 6 07/01/2021 4.613 Equity in investee income Investment in Bowden 4,613 7 07/01/2021 338.000 Cash Investment in Bowden Gain on sale of investment ololo 313.247 X 24.753 8 09/15/2021 31.200 % Cash Investment in Bowden olo 31,200 9 12/31/2021 51.900 Investment in Bowden Equity in investee income Oo 51.900 10 12/31/2021 1.650 Equity in investee income Investment in Bowden OO 1.650

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