Record the annual dividend declared and received from Bowden.

Record accrue 2017 income based on 40% ownership of Bowden.

Record amortization of $60,000 excess patent fair value [indicated in problem] over 15 years.

Record the entry to accrue year income of 40% ownership.

Record year amortization of patent to establish correct book value for investment as of 7/1/18.

Record 20,000 shares of Bowden Company sold; investment basis computed below.

Record annual dividend declared and received.

Record year income based on remaining 30% ownership.

Record year of patent amortization.

On January 1, 2017, Fisher Corporation purchased 40 percent (80,000 shares) of the common stock of Bowden, Inc. for $976,000 in cash and began to use the equity method for the investment. The price paid represented a $60,000 payment in excess of the book Evalue of Fisher's share of Bowden's underlying net assets. Fisher was willing to make this extra payment because of a recently developed patent held by Bowden with a 15-year remaining life. All other assets were considered appropriately valued on Bowden's Ebooks. Bowden declares and pays a $92,000 cash dividend to its stockholders each year on September 15. Bowden reported net income of $402,000 in 2017 and $346,000 in 2018. Each income figure was earned evenly throughout its respective year. On July 1, 2018, Fisher sold 10 percent (20,000 shares) of Bowden's outstanding shares for $332,000 in cash. Although it sold this interest, Fisher maintained the ability to significantly influence Bowden's decision-making process. Prepare the journal entries for Fisher for the years of 2017 and 2018. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar.) Journal entry worksheet 2 3 4 5 6 7 8 9 10 > Record cost of 80,000 shares of Bowden Company. Note: Enter debits before credits. Date General Journal Debit Credit 01/01/2017