Softball Corporation reported the following balances at January 1, 20X9: Item Cash Accounts Receivable Inventory Buildings and Equipment Less: Accumulated Depreciation Book Value Fair Value $ 58,000 $ 58,000 61,000 61,000 114,000 132,000 303,000 247,000 (161,000) $ 375,000 $498,000 $ 66,000 $ 66,000 96,000 26,000 187,000 $ 375,000 Total Assets Accounts Payable Common Stock ($10 par value) Additional Paid-In Capital Retained Earnings Total Liabilities and Equities On January 1, 20X9, Pitcher Corporation purchased 100 percent of Softball's stock. All tangible assets had a remaining economic life of 10 years at January 1, 20X9. Both companies use the FIFO inventory method. Softball reported net income of $34,000 in 20x9 and paid dividends of $5,100. Pitcher uses the equity method in accounting for its investment in Softball. Required: Prepare all journal entries that Pitcher recorded during 20x9 with respect to its investment assuming Pitcher paid $468,000 for the ownership of Softball on January 1, 20X9. The amount of the differential assigned to goodwill is not impaired. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)