Question: I only need the second journal entry amounts. Thanks! Peanut Company acquired 90 percent of Snoopy Company's outstanding common stock for $270,000 on January 1

I only need the second journal entry amounts. Thanks!

Peanut Company acquired 90 percent of Snoopy Company's outstanding common stock for $270,000 on January 1 , 208, when the book value of Snoopy's net assets was equal to $300,000. Peanut uses the equity method to account for investments. The following trial balance summarizes the financial position and operations for Peanut and Snoopy as of December 31, 20X9: Required: a. Prepare any equity method journal entry(ies) related to the investment in Snoopy Company during 20X9. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

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