On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $171,000. At December 31, Helbert declared and paid a $59,400 cash dividend and reported net income of $170,500.

on January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $171,000. At December 31, Helbert declared and paid a $59,400 cash dividend and reported net income of $170,500. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit To record dividends received) (To record equity in Helbert Corporation's net income) SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR EXERCISE Determine the amount to be reported as an investment in Helbert stock at December 31. Investment in Helbert, December 31