Pesci Limited acquired 45% of Excel Corporation's 58,000 common shares for $17 per share on January 1, 2021. On June 15, Excel declared a dividend of $126,000 and Aurora received its share of the dividend on the same day. On December 31, Excel reported net income of $304,000 for the year. At December 31, Excel's shares were trading at $20 per share. Pesci accounts for this investment using the equity method.

Pesci also acquired 15% of the 378,000 common shares of Gunther Ltd for $29 per share on March 18, 2021. On June 30, Gunther declared a $330,000 dividend and Aurora received its share of these dividends on that day. On December 31, Gunther reported net income of $594,000 for the year. At December 31, Gunther's shares were trading at $27 per share. Pesci intends to hold on to the Gunther shares as a long-term investment for the dividend income. Pesci uses the fair value through profit or loss model for this investment.

Record the above transactions for the year ended December 31, 2021. (List transactions in chronological order. List all debit entries before credit entries. Credit account titles are automatically indented when the 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.)