On January 1, 2020, Al Corporation acquired a 35 percent interest in Bur, Inc., for $226,000. On that date, Burs balance sheet disclosed net assets with both a fair and book value of $374,000. During 2020, Bur reported net income of $82,000 and declared and paid cash dividends of $27,000. Al sold inventory costing $22,000 to Bur during 2020 for $43,000. Bur used all of this merchandise in its operations during 2020. Prepare all of Al 2020 journal entries to apply the equity method to this investment. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)