Swixon owns 17% of Nugoi as an investment in an associate.Nugoi paid $28,000 in total dividends to its shareholders.Swixon should record a
A) Debit to Dividend Income for $28,000
B) Debit to Dividend Income for $4,760
C) Credit to Cash for $4,760
D) Debit to Investment in Nugoi Common Shares for $4,760
E) Credit to Investment in Nugoi Common Shares for $4,760
Correct Answer:
Verified
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