Milani, Inc., acquired $10$ percent of Seida Corporation on January $1,2020,$ for $$181,000$ and appropriately accounted for the investment using the fair$-$value method. On January $1,2021,$ Milani purchased an additional $30$ percent of Seida for $$603,000$ which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $$2,010,000$ in total. Seida's January $1,2021,$ book value equaled $$1,860,000,$ although land was undervalued by $$132,000.$ Any additional excess fair value over Seida's book value was attributable to a trademark with an eight$-$year remaining dife. During $2021,$ Seida reported income of $$329,000$ and declared and paid dividends of $$116,000.$

Prepare the $2021$ journal entries for Milani related to its investment in Seida. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$

Journal entry worksheet

$1cm$

Record acquisition of Seida stock.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,,,=$