Callas Corporation paid $380,000 to acquire 40 percent ownership of Thinbill Company on January 1, 20X9. The amount paid was equal to Thinbills underlying book value. During 20X9, Thinbill reported operating income of $45,000 and income of $20,000 from gains on derivative contracts that were designated as cash flow hedges, so these gains were reported in Other Comprehensive Income (OCI). Thinbill paid dividends of $9,000 on December 10, 20X9. Required: a. Give all journal entries that Callas Corporation recorded in 20X9, associated with its investment in Thinbill Company. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Give all closing entries at December 31, 20X9, associated with its investment in Thinbill Company. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

View transaction list A Record the purchase of Thinbill Company. B Record the dividend from Thinbill. C Record the equity-method income. D Record the share of OCI reported by Thinbill. Credit Note : = journal entry has been entered View transaction list A Record the entry to close income from Thinbill Co. B Record the entry to close the unrealized gain or loss on investments of investee account. Credit Note : = journal entry has been entered