Multiple Choice
Brighton Beach Limited owns 40% of Alberta Based Inc. Total cash dividends paid by Alberta Based Inc. for the year ending December 31, 2020, amount to $47,919. The journal entry prepared by Brighton Beach Limited on December 31, 2020, includes a:
A) debit to Long-Term Investment for $19,168
B) credit to Dividend Revenue for $19,168
C) credit to Long-Term Investment for $19,168
D) debit to Cash for $47,918
Correct Answer:
Verified
Correct Answer:
Verified
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