Concord Corporation purchased $500$ shares of Nolan Inc. common stock for $$15,700($Concord does not have

significant influence$).$ During the year, Nolan paid a cash dividend of $$4\mathrm{.}45$ per share. At year$-$end, Nolan stock

was selling for $$35\mathrm{.}75$ per share

Prepare Concord's jounral entry to record the dividends received.