Brighton Beach Limited Owns 40% of Alberta Based Inc

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, 2014, amount to $47,919. The journal entry prepared by Brighton Beach Limited on December 31, 2014, includes a:

A) debit to Cash for $47,918
B) credit to Dividend Revenue for $19,168
C) credit to Long-Term Investment for $19,168
D) debit to Long-Term Investment for $19,168