On January $1$ of the current year, PurchaseAgent.com acquired $35$ percent $(800,000$ shares$)$ of the common stock of E$-$Transaction Corporation. The accounting period for both companies ends December $31.$

July $2$ E$-$Transaction declared a cash dividend of $$0\mathrm{.}25$ per share.

July $16$ E$-$Transaction paid the cash dividend declared on July $2.$

December $31$ E$-$Transaction reported net income of $$400,000.$

Perpare the journal entries for each of the above transactions that occurred during the current year for PurchaseAgent.com.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.