An abbreviated balance sheet for Courant Corporation disclosed the following as of Jan. 1,20x5: Current assets $100 (market value also $100) Equipment 500 (market value $1,000, 5 years of useful life remaining) Land 1,000 (market value $3,000) Total assets 1,600 Liabilities 400 (market value also $400) Owners Equity 1,200 Total Liabilities +Owners' Equity 1,600 D Corporation purchased 40% of Courant's common stock for $1,800, on Jan. 1,20x5. Courant earned net income of $1,000 in 20x5, and paid $600 in dividends for 20x5. Required: Prepare the journal entries that D Corporation should make during the year pertaining to the Investment in Courant including its initial investment in Courant. Show your work. BE SURE AND WRITE THE ACCOUNT NAME AND DR FOR DEBIT OR CR FOR CREDIT BY IT. HTML Editor