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Entries for equity investments: 20%50% ownership At a total cost of $5,600,000, Herrera Corporation acquired...

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Entries for equity investments: 20%50% ownership At a total cost of $5,600,000, Herrera Corporation acquired 280,000 shares of Tran Corp. common stock as a long-term investment. Tran Corp. has 800,000 shares of common stock outstanding, including the shares acquired by Herrera Corporation. a. Journalize the entries by Herrera Corporation to record the following information: If an amount box does not require an entry, leave it blank. Question Content Area 1. Tran Corp. reports net income of $600,000 for the current period. blank - Select - - Select - - Select - - Select - Question Content Area 2. A cash dividend of $0.50 per common share is paid by Tran Corp. during the

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