Glitter Services Pays $1,350,000 to Acquire 35% of Voting Stock

Glitter Services pays $1,350,000 to acquire 35% of voting stock of Grey Investments on March 5, 2016. Which of the following is the correct journal entry for the transaction?

A) $$\begin{array} { | c | c | c | } \hline \text { Long-term Investments-Grey Investments } & 1,350,000 & \\\hline \text { Cash } & & 1,350,000 \\\hline\end{array}$$
B) $$\begin{array} { | c | c | c | } \hline \text { Long-term Investments-Available-for-Sale } & 1,350,000 & \\\hline \text { Cash } & & 1,350,000 \\\hline\end{array}$$
C) $$\begin{array} { | c | r | r | } \hline \text { Cash } & 1,350,000 & \\\hline \text { Long-term Investments-Available-for-Sale } & & 1,350,000 \\\hline\end{array}$$
D) $$\begin{array} { | c | r | l | } \hline \text { Cash } & 1,350,000 & \\\hline \text { Long-term Investments-Grey Investments } & & 1,350,000 \\\hline\end{array}$$