In early 2020, Mountain Corporation decided to invest in the shares of two other companies. The following transactions occurred in 2020 and 2021

2020
Jan. 1	Purchased 25,000 shares in River Corporation as a short-term investment at $15.45 per share. This investment does not meet the criteria established for amortized cost investments and Mountain did not elect to use fair value through other comprehensive income (FVTOCI) for this investment. Mountain does not have significant influence over River.
Jan. 2	Purchased 70,000 of the voting common shares of Valley Enterprises Inc. for $500,000, which represented 40% of the voting common shares of Valley. This investment gave Mountain significant influence over Valley.
Oct. 16	Received a dividend of $0.75 per share on the Valley shares.
Nov 18	Received a dividend of $2.00 per share on the River shares.
Dec. 31	This is Mountains fiscal year end. River reported total net income of $450,000 for the year ended December 31, 2020, and its shares had a market price of $16.50 per share. Valley reported total net income of $240,000 for the year ended December 31, 2020, and its shares had a market price of $13.50 per share.
2021
Feb. 17	Mountain sold 7,000 River shares for $16.75 per share.

Required:

Assume that Mountain Corporation has chosen to use separate accounts to record the different types of income from its investments. Prepare journal entries to record the above-noted transactions. Skip a space between journal entries. Show all calculations and round your answers to the nearest whole dollar.