Multiple Choice
Nantucket Company owns a 30% interest in the stock of Franklin Corporation. During the year, Nantucket debited the Investment account for $22,500 and credited the account for $15,000. Based on this information, Franklin must have paid dividends of:
A) $7,000.
B) $15,000.
C) $25,000.
D) $50,000.
Correct Answer:
Verified
Correct Answer:
Verified
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