Peanut Company acquired 100 percent of Snoopy Company's outstanding common stock for $316,000 on January 1, 20X8, when the book value of Snoopy's net assets was equal to $316,000. Accumulated depreciation on this date was $19,000. Peanut chooses to carry the investment in Snoopy at cost because the investment will be consolidated. The following trial balance summarizes the financial position and operations for Peanut and Snoopy as of December 31, 20X9: Peanut Company Credit Snoopy Company Debit $ 79,000 Credit Debit Cash 245,000 195,000 188,000 316,000 213,000 701,000 284,000 55,000 238,000 242,000 Accounts Receivable 84,000 Inventory Investment in Snoopy Company 100,000 Land 104,000 206,000 Buildings & Equipment Cost of Goods Sold 136,000 Depreciation Expense Selling & Administrative Expense Dividends Declared 19,000 72,000 39,000 Accumulated Depreciation Accounts Payable Bonds Payable S 514,000 67,000 142,000 500,000 581,000 834,000 39,000 $2,677,000 $2, 677, 000 57,000 19,000 73,000 186,000 208,000 Common Stock Retained Earnings Sales 296,000 Dividend Income $839,000 $839,000 Total Required: a. Prepare any journal entry(ies) related to the investment in Snoopy Company during 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet