Micron owns 16% of JVT as an investment in an associate. JVT paid $78,000 in total dividends to its shareholders. Micron should record a:
A) Credit to Cash for $12,480.
B) Debit to Dividend Income for $12,480.
C) Debit to Investment in JVT Common Shares for $12,480.
D) Credit to Investment in JVT Common Shares for $12,480.
E) Debit to Dividend Income for $78,000.
Correct Answer:
Verified
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