Perdue Company Had the Following Transactions Pertaining to Stock Investments

Multiple Choice

Perdue Company had the following transactions pertaining to stock investments: - February 1, Purchased 3,000 shares of Hudson Company (10% ownership) at the market price of $17 per share.
- June 1, Received cash dividends of $6,000 on Hudson Company stock.
- October 1, Sold 3,000 shares of Hudson stock for $54,000.
The entry to record the purchase of the Hudson stock would include a:

A) debit to Long-Term Investment for $51,000.
B) credit to Long-Term Investment for $51,000.
C) credit to Dividend Revenue for $6,000.
D) debit to Short-Term Investment for $6,000.