On January $1,2023,$ Fisher Corporation purchased $40$ percent $(76,000$ shares$)$ of the common stock of Bowden, Incorporated, for $$990,000$ in cash and began to use the equity method for the investment. The price paid represented a $$54,000$ 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 $$90,000$ cash dividend to its stockholders each year on September $15.$ Bowden reported net income of $$404,000$ in $2023$ and $$356,000$ in $2024.$ Each income figure was earned evenly throughout its respective years.

On July $1,2024,$ Fisher sold $10$ percent shares$)$ of Bowden's outstanding shares for $$326,000$ 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.