Abler Company owns 40% of Saparo Company. Saparo Company paid $40,000 cash dividends for the year. Abler Company's journal entry to record the dividends includes a:
A) credit to Dividend Revenue for $16,000.
B) credit to Dividend Revenue for $40,000.
C) credit to Long-Term Investments for $16,000.
D) credit to Long-Term Investments for $40,000.
Correct Answer:
Verified
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