Austin, Inc., acquired McKenzie's book value on that date was $100, 10 percent of McKenzie Corporation on January 1, 2014, for $210,000 although 000 on its accounting records. During 2014, McKenzie earned a net income of $240,000 while declaring and percent of McKenzie for $600,000. McKenzie's land is still undervalued Any additional excess cost was attributable to a trademark with a 10-year life for the first purchase and a 9-year life for the second. The initial 10 percent investment had were not readily available. The equity method will now be applied. During 2015, McKenzie reported income of $300,000 and declared and paid dividends of $110,000 an additional 30 on that date, but then by $120,000 paying cash dividends of 000. On January 1, 2015, Austin purchased been maintained at cost because fair values Prepare all of the 2015 journal entries for Austin. (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 second acquisition of McKenzie stock. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal