On January $1,$ Chapin Corporation purchased, as long$-$term investments, $10$ percent of the voting stock of

Paxton Corporation for $$75,000$ and $25$ percent of the voting stock of Colb Corporation for $$150,000.$ During

the year, Paxton Corporation had earnings of $$40,000$ and paid dividends of $$15,000$ on October $15,$ and

Colb Corporation had earnings of $$20,000$ and paid dividends of $$12,000$ on November $10.$ The market

value of neither investment declined nor rose during the year. Prepare entries in journal form, without

explanations, to record this information as appropriate in Chapin Corporation's journal below.