Eliasen,Inc B) C) D)

Eliasen,Inc.invests its excess cash in Creative Technologies,Inc.and acquires 3,300 shares for $32.50 per share.Eliasen,Inc.owns less than 2% of Creative's voting stock and plans to hold the stock for two years.Which of the following is the correct journal entry for the transaction?

A) $$\begin{array} { |l | r | r | } \hline \text { Long-term Investments-Held-to-Maturity } & 107,250 & \\\hline \text { Cash } & & 107,250 \\\hline\end{array}$$
B) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 107,250 & \\\hline \text { Long-term Investments-Held-to-Maturity } & & 107,250 \\\hline\end{array}$$
C) $$\begin{array} { | l| r | r | } \hline \text { Cash } & 107,250 & \\\hline \text { Long-term Investments-Available-for-Sale } & & 107,250 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Long-term Investments-Available-for-Sale } & 107,250 & \\\hline \text { Cash } & & 107,250 \\\hline\end{array}$$