On August 1, 2020, Monty Corporation purchased 20% of the outstanding voting shares in WLT Corporation for $1,220,000. At the time of purchase, WLT's net assets were undervalued by $70,000 and had a remaining useful life of 12 years. Both companies had a December 31 year-end. At the end of 2020, WLT reported a net income of $300,000. Also, on December 31, 2020, the fair value of the investment in WLT shares was $1,342,000. On January 10, 2021, WLT paid a cash dividend. Monty's ownership entitles it to $15,000 of the dividend. Prepare the journal entries on the books of Monty Corporation to record the transactions described above, assuming that the 20% interest in WLT does not represent significant influence, and that Monty elected to account for its investment following the fair value through net income (FV-NI) model. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Date Account Titles and Explanation Debit Credit List of Accounts Accumulated Other Comprehensive Income Allowance for Investment Impairment Bond Investment at Amortized Cost Cash Dividend Receivable Dividend Revenue FV-NI Investments FV-OCI Investments Gain on Sale of Investments GST Receivable Interest Expense Interest Income Interest Payable Interest Receivable Investment in Associate Investment Income or Loss Loss on Discontinued Operations Loss on Impairment Loss on Sale of Investments No Entry Note Investment at Amortized Cost Other Investments Recovery of Loss from Impairment Retained Earnings Unrealized Gain or Loss - OCI