Question 55 Macaron Corporation purchased 214,000 of the 1,070,000 common shares of Abacus Ltd. on October 1, 2018, at $2.70 per share. Near the end of the fourth quarter ende. December 31, Abacus declared dividends on its common shares of $72,000 but payment will not be made until 2019. Abacus also announced that it had net income for the quarter ended December 31, 2018, of $213,000. Record the journal entries that Macaron would make during the last quarter ended December 31, 2018, under the following assumptions: Macaron has significant influence over Abacus and uses the equity method to account for this investment. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit Macaron does not have significant influence over Abacus and uses the cost model to account for this investment. (Credit account titles are automatically indente when the 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.) Date Account Titles and Explanation Debit Credit