Micron owns 32% of Martok. Martok pays a total of $48,000 in cash - 15728

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yousafbhutta

yousafbhutta

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Price: $0.50
  • From: Business,
  • Posted on: Tue 19 Mar, 2013
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Request Description

Micron owns 32% of Martok. Martok pays a total of $48,000 in cash dividends for the period. Micron's entry to record the dividend transaction would include a:
 
Debit to Cash for $48,000.
 
Credit to Investment Revenue for $48,000.
 
Credit to Cash for $15,360.
 
Debit to Long-Term Investments for $15,360.
 
Credit to Long-Term Investments for $15,360.
                                       

Solution Description

 

Micron owns 32% of Martok. Martok pays a total of $48,000 in cash dividends for the period. Micron's entry to record the dividend transaction would include a: