Micron owns 35% of Martok. Martok pays a total of $47,000 in cash dividends for the period. Micron's entry to record the dividend transaction would include a:
Credit to Long-Term Investments for $16,450.
Debit to Long-Term Investments for $16,450.
Debit to Cash for $47,000.
Credit to Cash for $16,450.
Credit to Investment Revenue for $47,000.
Everrine Corporation owns 3,000 shares of JRW Corporation. JRW Corporation has 25,000 shares of stock outstanding. JRW paid $4 per share in cash dividends to its stockholders. The entry to record the receipt of these dividends is:
Debit Cash, $12,000; credit Long-Term Investments, $12,000.
Debt Long-Term Investment, $12,000; credit Cash, $12,000.
Debit Cash, $12,000; credit Dividend Revenue, $12,000. Debit Unrealized Gain-Equity, $12,000; credit Cash, $12,000.
Debit Cash, $12,000; credit Unrealized Gain-Equity, $12,000.
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