On January 1, 2020, Fisher Corporation purchased 40 percent (82,000 shares) of the common stock of Bowden, Inc., for $988,000 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 $96,000 cash dividend to its stockholders each year on September 15 . Bowden reported net income of $396,000 in 2020 and $352,000 in 2021 . Each income figure was earned evenly throughout its respective years. On July 1, 2021, Fisher sold 10 percent (20,500 shares) of Bowden's outstanding shares for $332,000 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.) Answer is not complete. \begin{tabular}{|c|c|c|c|c|c|} \hline No & Date & \multicolumn{2}{|c|}{ General Journal } & Debit & Credit \\ \hline \multirow{6}{*}{1} & 01/01/2020 & Investment in Bowden & & 988,000 & \\ \hline & & Cash & 2 & & 988,000 \\ \hline & & Cash & & 38,400 & \\ \hline & & Cash & & & 38,400 \\ \hline & & & & 158,400 & \\ \hline & & Investment in Fisher & & & 158,400 \\ \hline \end{tabular}