IW Cash Accounts Receivable 184,000 72,000 Inventory 210,000 85,000 Investment in Snoopy Company 352,800 Land 206,000 96,000 Buildings and Equipment 705,000 185,000 Cost of Goods Sold 197,000 111,000 Depreciation Expense 46,000 Selling & Administrative Expense 208,000 Dividends Declared i 90,000 9,000 41,000 29,000 Accumulated Depreciation $ 442,000 $ 18,000 Accounts Payable 61,000 46,000 Bonds Payable 180,000 70,000 Common Stock 491,000 193,000 Retained Earnings 323,800 148,000 Sales 792,000 241,000 Income from Snoopy Company 72,000 0 Total $2,361,800 $2,361,800 $716,000 $716,000 Required: a. Prepare any equity method entry(ies) related to the investment in Snoopy Company during 20X8. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete and correct. No Event General Journal Debit Credit 1 1 Investment in Snoopy Co. 306,900 Cash 306,900 2 2 Investment in Snoopy Co. Income from Snoopy Co. 00 72,000- 72,000 3 3 Cash Investment in Snoopy Co. 00 26,100 26,100 < Prev 2 of 3 Next > MacBook Pro