On January $1,2023,$ Fisher Corporation purchased $40$ percent $(70,000$ shares$)$ of the common stock of Bowden, Incorporated, for $$974,000$ in cash and began to use the equity method for the investment. The price paid represented a $$60,000$ payment in excess of the book value of Fisher's share of Bowden's underlying net assets. Fisher was willing to make this extra payment because of a recently developed patent held by Bowden with a $15-$year remaining life. All other assets were considered appropriately valued on Bowden's books.

Bowden declares and pays a $$102,000$ cash dividend to its stockholders each year on September $15.$ Bowden reported net income of $$390,000$ in $2023$ and $$342,000$ in $2024.$ Each income figure was earned evenly throughout its respective years.

On July $1,2024,$ Fisher sold $10$ percent $(17,500$ shares$)$ of Bowden's outstanding shares for $$332,000$ in cash. Although it sold this interest, Fisher maintained the ability to significantly influence Bowden's decision$-$making process.

Required:

Prepare the journal entries for Fisher for the years of $2023$ and $2024.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Record annual dividend declared and received.

Record the accrual of income for the second half of the year.

Record the amortization for the second half of the year.