Milani, Inc., acquired $10$ percent of Seida Corporation on January $1,2020,$ for $$190,000$ and appropriately accounted for the investment using the fair$-$value method. On January $1,2021,$ Milani purchased an additional $30$ percent of Seida for $$600,000$ which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $$2,000,000$ in total. Seida's January $1,2021,$ book value equaled $$1,850,000,$ although land was undervalued by $$120,000.$ Any additional excess fair value over Seida's book value was attributable to a trademark with an eight$-$year remaining life. During $2021,$ Seida reported income of $$300,000$ and declared and paid dividends of $$110,000.$

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.$)$

$\backslash$table$[[,$No$,$Transaction,General Journal,Debit,Credit$],[0,1,1,$Investment in Seida,$600,000,],[,,$Cash,,$600,000],[$@$,2,2,$Investment in Seida,$120,000,],[,,$Equity in Investee Income,,$120,000],[$@$,3,3,$Equity in Investee Income,,$],[,,$Investment in Seida,,$],[0,4,4,$Dividend receivable,,$],[,,$Investment in Seida,,$],[0,5,5,$Cash,$44,000,],[,,$Dividend receivable,,$44,000]]$