LOH Belal Corporation Limited purchased 30 percent of Khalil Company's common stock on January 1, 2021, by issuing preferred stock with a par value of EDT 50,000 and a market price of BOT 120,000. The following amounts relate to Khalil Company's balance sheet items at that date Particulars Book value Fair value (Amount in BDT) (Amount in BDTI Cash & Receivables 200,000 200,000 Building & Equipment 400.000 360.000 Less: Accumulated Depreciation (100 000) Total Assets 500,000 Account Payable 50,000 50,000 Bonds Payable 200.000 200,000 Common Stock 100.000 Retained Earnings 150,000 Total Llabilities & Equity 500,000 Khalil Company Limited purchased buildings and equipment on January 1, 2015, with an expected economic life of 20 years. No change in overall expected economic life occurred as a result of the acquisition of Belal Company's stock. The amount paid in excess of the fair value of Khalil Company's reported net assets is attributed to unrecorded copyrights with a remaining useful life of eight years. During 2021, Khalil Company's reported net income of BDT 40,000 and paid dividends of BDT 10,000. Required: Give all journal entries to be recorded on Belal Company's books during 2021, assuming it uses the equity method in accounting for its ownership of Khalil Company [MARKS: (5+7+B) = 20)