Assume that Ali Company and Bader Company each invested $(201812488) for a 50% interest in an unincorporated joint venture on January 2, 2020. AB achieved net profit 15% of 201812488 and paid cash dividends 4% of 201812488

Required:

Record the journal entries in the books of the ventures Ali and Bader and compute the ending balance of investment in AB JV by using:

Equity method of accounting.