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Milani, Inc., acquired 1 0 percent of Seida Corporation on January 1 , 2 0 2 0 , for $ 1 9 5 , 0

Milani, Inc., acquired 10 percent of Seida Corporation on January 1,2020, for $195,000 and appropriately accounted for the investment using the fair-value method. On January 1,2021, Milani purchased an additional 30 percent of Seida for $624,000 which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $2,080,000 in total. Seidas January 1,2021, book value equaled $1,930,000, although land was undervalued by $130,000. 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 $342,000 and declared and paid dividends of $100,000.
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.)
Record acquisition of Seida stock.
Record the 40% income earned during period by Seida.
Record 2021 amortization for trademark excess fair value.
Record dividend declaration from Seida.
Record collection of dividend from investee.

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