Question 7 4 pts We Invest, Inc acquired 15% of We Make It, Inc. on January 1, 2020 for $35,000. On December 31, 2020 the investment in We Make It, Inc. has a fair market value of $32,000. For the year ended December 31, 2020 We Make It Inc has income of $10,000. The entry We Invest, Inc. would record on December 31, 2020 would include: O Adebit to investment in We Make It, Inc. of $1.500 Acredit to investment in We Make It Inc. of $1,500 A debit to Investment in We Make It, Inc of $3,000 A credit to investment in Wie Make It, Inc. of $3,000 Question 8 4 pts We invest, Inc. acquired 45% of We Make It, Inc on January 1, 2020 for $37.000. On December 31, 2020 the investment in We Make It, Inc. has a fair market value of $32.000. For the year ended December 31, 2020 We Make It, Inc has income of $10,000. The entry We Invest, Inc. would record on December 31, 2020 would include: Acredit to tevestment ins We Make iting of $3.000 O A credit to investment in We Make It Inc. or 54,500 Adebit to Investment in We Make It, Inc, of $3,000 O Adebit to Investment in We Make It Inc of $4,500