$$ January $1,$ Oriole Company purchased a $25\%$ equity investment in Pharoah Company for $$336,000.$ At December $31,$ Pharoah Company declared and paid a $$22,400$ dividend and reported net income of $$134,400.$

$($a$)$

Journalize the transactions on the books of Oriole Company. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date

Account Titles and Explanation

Debit

Credit

$($To record dividends received$)$