Assume that Bennett Corporation owns 70% of Wilson Company's common stock. Bennefit Corporation used the equity method to record Wilson Company's income and dividends. On December 31, 2016, Wilson reports $300,000 in net income for 2016.

a. What entry will Bennett Corporation make for this scenario?

b. What entry will Bennett Corporation make to record dividends paid by Wilson Company in the amount of $20,000?

Thank you for your help; I greatly appreciate :)