Vans Purchased 40,000 Shares of Skechers Common Stock for $232,000

Multiple Choice

Vans purchased 40,000 shares of Skechers common stock for $232,000.This represents 40% of the outstanding stock.The entry to record the transaction includes a:

A) Debit to Long-Term Investments for $92,800.
B) Debit to Long-Term Investments for $232,000.
C) Credit to Long-Term Investments for $92,800.
D) Credit to Long-Term Investments for $232,000.
E) Debit to Long-Term Investment for $40,000.