on January $1,2024,$ Alamar Corporation acquired a $36$ percent interest in Burks, Incorporated, for $$220,000.$ On that date, Burks$$s balance sheet disclosed net assets with both a fair and book value of $$368,000.$ During $2024,$ Burks reported net income of $$81,000$ and declared and paid cash dividends of $$20,000.$ Alamar sold inventory costing $$30,000$ to Burks during $2024$ for $$35,000.$ Burks used all of this merchandise in its operations during $202$

Required:

Prepare all of Alamar$$s $2024$ 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.