Entries for equity investments: $20\%-50\%$ ownership

On January $4,20Y4,$ Ferguson Company purchased $96,000$ shares of Silva Company's common stock directly from one of the founders for a price of $$48$ per share. Silva has $300,000$ sh outstanding, including the Daniels shares. On July $2,20Y4,$ Silva paid $$259,000$ in total dividends to its shareholders. On December $31,20Y4,$ Silva reported a net income of $$897,000f$

a$.$ Journalize the Ferguson Company entries for the transactions involving its investment in Silva Company during $20$Y$4.$ If an amount box does not require an entry, leave it blank. $20$Y$4,$ Jan. $4$

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$20$Y$4,$ July $2$

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$20$Y$4,$ Dec. $31$

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b$.$ Determine the December $31,20$Y$4,$ balance of Investment in Silva Company Stock.

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