On January $1,2023,$ Fisher Corporation purchased $40$ percent $(70,000$ shares$)$ of the common stock of Bowden, Incorporated, for $$974,000$ in cash and began to use the equity method for the investment. The price paid represented a $$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 $$96,000$ cash dividend to its stockholders each year on September $15.$ Bowden reported net income of $$388,000$ in $2023$ and $$360,000$ 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 $$322,000$ 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.

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$\backslash$table$[[,$No$,$Date,General Journal,Debit,Credit$],[$@$,1,\frac{01}{01}\frac{?}{2023},$Investment in Bowden,$974,000,],[,,$Cash,,$974,000],[$@$,2,\frac{09}{15}\frac{?}{2023},$Cash,$38,400,],[,,$Investment in Bowden,,$38,400],[.,,,,],[1,3,\frac{12}{31}\frac{?}{2023},$Investment in Bowden,$155,200,],[,,$Equity in investee income,,$155,200],[2,4,\frac{12}{31}\frac{?}{2023},$Equity in investee income,$3,600,],[,,$Investment in Bowden,,$3,600],[$@$,5,\frac{07}{01}\frac{?}{2024},$Investment in Bowden,$72,000,],[,,$Equity in investee income,,$72,000],[2,6,\frac{07}{01}\frac{?}{2024},$Equity in investee income,$2,200,],[,,$Investment in Bowden,,$2,200]]$