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Which of the Following Journal Entries Would Have to Be

Question 15

Multiple Choice

Which of the following journal entries would have to be made to record X's purchase of Y's shares?


A)
 Debit  Credit  Investment in Y$100,000 Cash $100,000\begin{array} { | l | l | l | } \hline & \text { Debit } & \text { Credit } \\\hline \text { Investment in } Y & \$ 100,000 & \\\hline \text { Cash } & & \$ 100,000 \\\hline\end{array}
B)
 Debit  Credit  Investment in Y$12,000 Cash $12,000\begin{array} { | l | l | l | } \hline & \text { Debit } & \text { Credit } \\\hline \text { Investment in } Y & \$ 12,000 & \\\hline \text { Cash } & & \$ 12,000 \\\hline\end{array}
C)
 Debit  Credit  Investment in Y$112,000 Cash $112,000\begin{array} { | l | l | l | } \hline & \text { Debit } & \text { Credit } \\\hline \text { Investment in } Y & \$ 112,000 & \\\hline \text { Cash } & & \$ 112,000 \\\hline\end{array}
D) No entry requireD.

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