Current Attentin Pro On August 1.2020 Purah Corporation purchased 20 of the outstandire votines in WLT Corporation for $1,30000 AL the time of purchase, WLT' net assets were undervalued by $71,000 and had a remaining use of 12 years. Both hada December 21 year-end. At the end of 2000, WLT reportedanet income of $12,000. Also on December 12, the air value of the investment in WT shares was $1422.000 on January 10, 2021. WLT pada cash dividend. Pharaonership entities it to $16.100 of the dividend Prepare the journal entries on the books of Pharoah Corporation to record the transaction described above asuming that interest in WLT does not represent significant ince and that Pharoah elected to account for its investment following their value through net income (FV NO) model (Crect account creatomatically indented when the amount ist. Dit mecand journal entre in the order resented in the problem. I no entry muscle Montryhow the can mer for them) Date Account Titles and Explanation Debit Crocin Current Attentin Pro On August 1.2020 Purah Corporation purchased 20 of the outstandire votines in WLT Corporation for $1,30000 AL the time of purchase, WLT' net assets were undervalued by $71,000 and had a remaining use of 12 years. Both hada December 21 year-end. At the end of 2000, WLT reportedanet income of $12,000. Also on December 12, the air value of the investment in WT shares was $1422.000 on January 10, 2021. WLT pada cash dividend. Pharaonership entities it to $16.100 of the dividend Prepare the journal entries on the books of Pharoah Corporation to record the transaction described above asuming that interest in WLT does not represent significant ince and that Pharoah elected to account for its investment following their value through net income (FV NO) model (Crect account creatomatically indented when the amount ist. Dit mecand journal entre in the order resented in the problem. I no entry muscle Montryhow the can mer for them) Date Account Titles and Explanation Debit Crocin