Cider Jewelers Purchased 3,000,000 of the Outstanding 10,000,000 Shares of Angel

Cider Jewelers purchased 3,000,000 of the outstanding 10,000,000 shares of Angel & Associates. At the time of the acquisition, the book value of Angel's net assets equals their fair market value. Angel declared and paid dividends of $285,000 during the year. Which of the following is the correct journal entry for this transaction?

A) $\begin{array}{|l|c|r|}\hline\text { Cash } & 85,500 \\\hline \text { Investment in Angel \& Associates } &&85,500\\\hline\end{array}$
B) $$\begin{array} { | l | r | r | } \hline \text { Investment in Angel \& Associates } & 85,500 & \\\hline \text { Dividend Revenue } & & 85,500 \\\hline\end{array}$$
C) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 285,000 & \\\hline \text { Investment in Angel \& Associates } & & 285,000 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | r | } \hline \text { Investment in Angel \& Associates } & 285,000 & \\\hline \text { Dividend Revenue } & & 285,000 \\\hline\end{array}$$