West Corporation Purchased 15,000 Shares of Luffy Corporation Common Stock $\begin{array}{l}\text { Cash } & 90,000\\\text { Dividend Income }&& 90,000\end{array}$

West Corporation purchased 15,000 shares of Luffy Corporation common stock for $60 per share on January 2,2009.Luffy Corporation reported net income of $1,500,000 for 2009 and paid dividends of $300,000 during 2009.Luffy has a total of 50,000 shares of common stock outstanding.The entry that would be recorded to recognize the receipt of cash dividend is:

A) $\begin{array}{l}\text { Cash } & 90,000\\\text { Dividend Income }&& 90,000\end{array}$
B) $\begin{array}{llr} \text {Income,Luffy Corporation Investment } &90,000\\ \text { Cash } &&90,000\\\end{array}$

C) $\begin{array}{llr} \text { Cash} &90,000\\ \text {Income,Luffy Corporation Investment } &&90,000\\\end{array}$

D) $\begin{array}{l}\text { Cash }& 90,000\\\text { Investment in Luffy Corporation }&&90,000\end{array}$