On January 1 , 2 0 2 4 , Alamar Corporation acquired a 3 9 percent interest in Burks, Incorporated, for $ 2 2 5 , 0 0 0 On that date, Burks's balance sheet disclosed net assets with both a fair and book value of $ 3 7 3 , 0 0 0 During 2 0 2 4 , Burks reported net income of $ 7 7 , 0 0 0 and declared and paid cash dividends of $ 2 3 , 0 0 0 Alamar sold inventory costing $ 2 1 , 0 0 0 to Burks during 2 0 2 4 for $ 4 5 , 0 0 0 Burks used all of this merchandise in its operations during 2 0 2 4 Required Prepare all of Alamar's 2 0 2 4 journal entries to apply the equity method to this investment Note If no entry is required for a transaction event , select No journal entry required in the first account field Answer is complete but not entirely correct

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On January 1 , 2 0 2 4 , Alamar Corporation acquired a 3 9 percent interest in Burks, Incorporated, for $ 2 2 5 , 0 0 0   On that date, Burks's balance sheet disclosed net assets with both a fair and book value of $ 3 7 3 , 0 0 0   During 2 0 2 4 , Burks reported net income of $ 7 7 , 0 0 0 and declared and paid cash dividends of $ 2 3 , 0 0 0   Alamar sold inventory costing $ 2 1 , 0 0 0 to Burks during 2 0 2 4 for $ 4 5 , 0 0 0   Burks used all of this merchandise in its operations during 2 0 2 4   Required  Prepare all of Alamar's 2 0 2 4 journal entries to apply the equity method to this investment  Note  If no entry is required for a transaction   event , select   No journal entry required  in the first account field  Answer is complete but not entirely correct

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On January 1 , 2 0 2 4 , Alamar Corporation acquired a 3 9 percent interest in Burks, Incorporated, for $ 2 2 5

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