On January 1, 2020, Fisher Corporation purchased 40 percent (80,000 shares) of the common stock of Bowden, Inc., for $978,000 in cash and began to use the equity method for the investment. The price paid represented a $66,000 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 $102,000 cash dividend to its stockholders each year on September 15. Bowden reported net income of $396,000 in 2020 and $360,000 in 2021. Each income figure was earned evenly throughout its respective years.

On July 1, 2021, Fisher sold 10 percent (20,000 shares) of Bowden's outstanding shares for $334,000 in cash. Although it sold this interest, Fisher maintained the ability to significantly influence Bowden's decision-making process.

Prepare the journal entries for Fisher for the years of 2020 and 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)

• 1 Record the acquisition of Bowden's shares.

• 2 Record the annual dividend declared and received from Bowden.

• 3 Record the accrual of income for 2020.

• 4 Record amortization for 2020.

• 5 Record the accrual of income through 07/01/21.

• 6 Record amortization through 07/01/21.

• 7 Record the sale of the shares.

• 8 Record annual dividend declared and received.

• 9 Record the accrual of income for the second half of the year.

• 10 Record the amortization for the second half of the year.