Centennial Gold Corp paid $21,000,000 to acquire a 40 percent investment in Premiere Ltd. Further, assume Premiere Ltd. reported net income of 51,780.000 for the first year and declared and paid cash dividends of $850,000. Record the following entries in Centennial's gonatal Journal Purchase of the investment. Disregard brokerage commissions on the purchase Dec 31 Centennial's proportion of Premier Ltd.'s not income Receipt of the cash dividende Jan 2 Dec 31 Record the entries in Contennial's general journal, Begin by creating a journal entry to record the purchase of the investment in Premier Ltd on January 2 (Record debits first, then credits. Enter explanations on the last line.) Journal Entry Accounts and Explanations Debit Credit Date Jan 2 Now create the journal entry to record Centennial's portion of Premiere Ltd.'s net income on December 31 Journal Entry Accounts and Explanations Date Dec Debit Credit 31 Finally create the journal entry to record the receipt of cash dividends on December 31 Journal Entry Date Accounts and Explanations Debit Credit Dec 31