Zhang Corp.owns 40% of Magnor Company's common stock.Magnor pays $97,000 in total cash dividends to its shareholders.Zhang's entry to record this transaction should include a:
A)Debit to Dividends for $97,000.
B)Debit to Dividends for $38,800.
C)Debit to Equity Method Investments for $97,000.
D)Credit to Equity Method Investments for $38,800.
E)Credit to Cash for $97,000.

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The Answer of Zhang Corp.owns 40% of Magnor Company's common stock.Magnor pays $97,000 in total cash dividends to its shareholders.Zhang's entry to record this transaction should include a:
A)Debit to Dividends for $97,000.
B)Debit to Dividends for $38,800.
C)Debit to Equity Method Investments for $97,000.
D)Credit to Equity Method Investments for $38,800.
E)Credit to Cash for $97,000.