Nero Ltd purchased a 30% per cent shareholding in Bianco Ltd on 1 January 20X8 for $180000. Bianco Ltds assets recorded at fair values and its owners equity, totalling $520 000, was represented as follows:

Share capital $260000

Reserves $120000

Retained profits $100000

Asset revaluation reserve $40000

During July 20X8, Bianco Ltd paid an interim dividend of $18000. At 31 December 20X8, Bianco Ltd reported:

Profit for 20X8 $48000

Final dividend payable $14000

A transfer to the general reserve $10000

Increase of the asset revaluation reserve to $70000

Assuming that Nero Ltd applies the equity method in its own books the entry to record the dividend receivable from Bianco Ltd at 31 December 20X9 would include: