On January 2,2018,Surfside Co

Multiple Choice

On January 2,2018,Surfside Co.purchased 12,000 shares of Sand,Inc.for $240,000.The investment represented 12% of Sand's outstanding shares.On December 31,2018 each share of Sand was selling for $19 per share and on December 31,2019 each share of Sand was selling for $23 per share.
-Which of the following correctly presents the entries made by Surfside to its investment account for this investment?

A) January 2,2018,debit $240,000;December 31,2018,credit $12,000;December 31,2019,debit $48,000.
B) January 2,2018,debit $240,000;December 31,2018,credit $12,000;December 31,2019,debit $36,000.
C) January 2,2018,debit $240,000;December 31,2018,debit $12,000;December 31,2019,credit $36,000.
D) January 2,2018,credit $240,000;December 31,2018,debit $12,000;December 31,2019,credit $48,000.