Roe Corporation Owns 2,000 Shares of WRJ Corporation Stock

Multiple Choice

Roe Corporation owns 2,000 shares of WRJ Corporation stock.WRJ Corporation has 25,000 shares of stock outstanding.WRJ paid $4 per share in cash dividends to its stockholders.The entry to record the receipt of these dividends is:

A) Debit Cash,$8,000;credit Long-Term Investments,$8,000.
B) Debt Long-Term Investment,$8,000;credit Cash,$8,000.
C) Debit Cash,$8,000;credit Dividend Revenue,$8,000.
D) Debit Unrealized Gain-Equity,$8,000;credit Cash,$8,000.
E) Debit Cash,$8,000;credit Unrealized Gain-Equity,$8,000.