$2.$ M Company and B Incorporation formed MB Ltd$.,$ a joint venture, on January $1,2021.$ M Co$.$ invested equipment with a carrying amount of $$900,000($original cost was $$1,100,000$ and accumulated depreciation was $$200,000)$ and a fair value of $$1,020,000$ for a $40\%$ interest in JV Ltd$.,$ while B Co$.$ contributes technology with a fair value of $$1,530,000$ for a $60\%$ interest in JV Ltd$.$ The equipment has an estimated useful life of $10$ years. On December $31,2021,$ JV Ltd$.$ reported a net income of $$204,000.$ On February $28,2022,$ MB Ltd$.$ declared dividends of $$180,000.$ On April $10,2022,$ MB Ltd$.$ paid dividends Required: Journal entry for M Company and B Incorporation in $2021$ and $2022.$