pook value of Scissor's net assets was equal to $370,000. Paper uses the equity method to account for investments. Trial balance data for Paper and Scissor as of December 31, 20X8, are as follows: (Assume the company prepares the optional Accumulated Depreciation Elimination Entry) Required: a. Prepare the journal entries on Paper's books for the acquisition of Scissor on January 1.208, as well as any normal equity method entryles) related to the investment in Scissor Company during 208. (If no entry is required for o transaction/event, select "No journal entry required" in the first account field.) PAPER COMPANY AND SUBSIDIARY Required: a. Prepare the joumal entrles on Paper's books for the acquisition of Scissor on January 1, 20X8, as well as any normal equity method entrylles) related to the investment in Scissor Company during 208. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld.) Journal entry worksheet Record the initial investment in Seissor Company. Notel Enter debits before eredits