Question 11 --/1 View Policies Current Attempt in Progress Presented below are two independent situations: (a) Wildhorse Inc. acquired 10% of the 421,000 shares of common stock of Schuberger Corporation at a total cost of $12 per share on June 17, 2020. On September 3, Schuberger declared and paid a $121,000 dividend. On December 31, Schuberger reported net income of $521,000 for the year. (b) Blossom Corporation obtained significant influence over Hunsaker Company by buying 30% of Hunsaker's 121,000 outstanding shares of common stock at a cost of $16 per share on January 1, 2020. On May 15, Hunsaker declared and paid a cash dividend of $121,000. On December 31, Hunsaker reported net income of $221,000 for the year. Prepare all necessary journal entries for 2020 for (a) Wildhorse and (b) Blossom. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (b) Question 10 --/1 View Policies Current Attempt in Progress Pharoah Corporation had the following transactions relating to debt investments: Jan. 1, 2020 Purchased 50, $1,700, 15% Spiller Company bonds for $85,000. Interest is payable annually on January 1. Dec. 31, 2020 Accrued interest on Spiller Company bonds. Jan. 1, 2021 Received interest from Spiller Company bonds. Jan. 1, 2021 Sold 30 Spiller Company bonds for $49,300. Journalize the above transactions, including the adjusting entry for the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record receipt of the interest revenue.) (To record sale of bonds.)