Question 1 View Policies Show Attempt History Current Attempt in Progress Ivanhoe Company acquired 30% of the outstanding common stock of Grinwold Inc. on January 1, 2022, by paying $2,250,000 for 75,000 shares. Grinwold declared and pald a $1 per share cash dividend on June 30 and again on December 31, 2022. Grinwold reported net income of $1,000,000 for the year. Your answer is correct. Prepare the Journal entries for Ivanhoe Company for 2022, assuming Ivanhoe cannot exercise significant influence over Grinwold. (Use the cost method.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 1 1 Stock Investments Cash 2250000 June 30 : Cash 75000 Dividend Revenue Dec. 31 Cash 75000 Dividend Revenue Prepare the journal entries for Ivanhoe Company for 2022, assuroing Ivanhoe Company can exercise significant influence over Grinwold. (Use the equity method.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record receipt of dividend) (To record revenue from investment) e Textbook and Media List of Accounts