Griffin Corporation invested $136,000 to acquire 27,000 shares of Delta Technologies, Inc. on March 1, 2017. On July 2, 2017, Delta pays a cash dividend of $1.00 per share. The investment is classified as an available-for-sale investment. Which of the following is the correct journal entry to record the transaction on July 2, 2017? 
Correct Answer:
Verified
Q61: Dividends received from available-for-sale investments are recorded
Q62: Long Company owns a 2% investment in
Q64: Green Services,Inc.invests its excess cash in Creative
Q66: Equity securities in which the investor owns
Q67: When a company receives a dividend payment
Q68: Maurice Corporation invested $100,000 to acquire 20,000
Q69: Eliasen, Inc. invests its excess cash in
Q71: Anthem Corporation has excess cash to invest
Q74: Ashbrook Services, Inc. acquired 126,000 shares of
Q77: When a company uses idle cash to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents