Turner Company purchased $20\%$ of the outstanding stock of ICA Company for $$10,800,000$ on January $2,2024.$ Turner elects the fair value option to account for the investment. During $2024,$ ICA reports $$830,000$ of net income, and on December $30$ pays a dividend of $$580,000.$ On December $31,2024,$ the fair value of Turner's investment has increased to $$13,100,000.$

Prepare the journal entries in the books of Turner to account for this investment during $2024.$ Assume that Turner will account for the investment using the fair value through net income approach.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

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$\backslash$table$[[,$No$,$Date,General Journal,Debit,Credit$],[8,1,$January $02,2024,$Investment in equity affiliate,$10,800,000,],[,1,$Cash,,$10,800,000$