Idle Corporation has been acquiring shares of Fast Track Enterprises at book value for the last several years. Data provided by Fast Track Enterprises included the following:

Fast Track Enterprises declares and pays its annual dividend on November 15 each year. Its net book value on January 1, 20X2, was \(\$ 250,000\). Idle Corporation purchased shares of Fast Track Enterprises on three occasions:

\section*{Required}
Give the journal entries to be recorded on the books of Idle Corporation in 20X5 related to its investment in Fast Track Enterprises.

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20X2 20X3 20X4 20X5 Net Income Dividends $40,000 20,000 $60,000 $40.000 $50,000 20,000 10.000 20.000