Amos, Inc., purchased $600,000 of Cedric Enterprises stock on January 1, 2021. Cedric recognized a total of $420,000 net income during 2021, paid $32,000 of dividends to Amos during 2021. On December 31, 2021, the market value of the Cedric investment had increased to $630,000. 1. Prepare the journal entries necessary to account for the Cedric investment, assuming that the investment by Amos was 5% of Cedric. 2. Prepare the journal entries necessary to account for the Cedric investment, assuming that the investment by Amos was 25% of Cedric. Complete this question by entering your answers in the tabs below. 1 2 Prepare the journal entries necessary to account for the Cedric investment, assuming that Amos purchased 5% of Cedric's stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of the investment. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 2 Prepare the journal entries necessary to account for the Cedric investment, assuming that Amos purchased 25% of Cedric's stock. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the purchase of the investment. Note: Enter debits before credits. Transaction General Journal Debit Credit 1