provide all journal entries

Novak inc acquired 100,000 cornmon shares, which is 25% of the outstanding comnon shares of Tahiti Led, on dankiny 5 , 2023 tor remainire iseful hife of 5 yoars with no malvage value. Tahiti Ltd. declared and paid a cash aividend or 50.40 per share on luha al, zona. Tatiti Ltd. reported $1.2 million as net income on December 31,2023 for the year ending Also, an Dechimber 31,2023 , the fair valuwe of the investment in Tahitiltd shares was $609,000 Prepare all the journalentries for 2023 in the books of Novak inc. relating to above transactions assuming that Novak inc, is not in a position to exercise significant influence over Tahiti Ltd, and that Novak elected to account for its investment following the tair value throwgh net income (FV-NI) model. (Credit account titles are outomatically indented when amount is entered. Do not indent manually Recard journal entries in the arder presented in the problem. If no entry is required, select "No Entry" for the account titles and enter ofor the amounts List all debit entries before credit entries.) Ift all debit ontries terore irnfit entries