Maclean Corporation owns 40% of Gondor Company's common stock. Maclean received $44,800 in cash dividends from Grist. The entry to record the cash dividend received from Grist would include a:

Question

Answer

Credit to Equity Method Investments for $112,000.

Answer

Credit to Dividend Revenue for $112,000.

Answer

Debit to Dividend Revenue for $44,800.

Answer

Credit to Equity Method Investments for $44,800.

Answer

Credit to Cash for $44,800.

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Maclean Corporation owns 40% of Gondor Company's common stock. Maclean received ...

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