On January 1, 2014, Ventura Company purchased 10,000 shares of the stock of Cambridge, and did obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $90,000, and represents a 30% ownership stake. Cambridge made $25,000 of net income in 2014, and paid dividends of $10,000. The price of Cambridge's stock increased from $10 per share at the beginning of the year, to $12 per share at the end of the year.

Requirements:

a. Prepare the January 1 & December 31 general journal entries for Ventura Company.