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On January 1 , Ivanhoe Company purchased a 2 5 % equity investment in Oriole Company for $ 2 5 8 , 0 0 0

On January 1, Ivanhoe Company purchased a 25% equity investment in Oriole Company for $258,000. At December 31, Oriole Company declared and paid a $17,200 dividend and reported net income of $103,200.
(a)
Journalize the transactions on the books of Ivanhoe Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually, List all debit entries before credit entries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
(To record dividends received)
(To record equity in Oriole Company's net income)
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