Glitter Services Pays $700,000 for 100,000 Shares to Acquire 30

Glitter Services pays $700,000 for 100,000 shares to acquire 30% of voting stock of Grey Investments on January 5, 2016. Grey Investments declares and pays a cash dividend of $1.4 per share on June 14, 2016. Which of the following is the correct journal entry for the transaction on June 14, 2016?

A) $$\begin{array} { | c | r | r | } \hline \text { Long-term Investments-Grey Investments } & 140,000 & \\\hline \text { Cash } & & 140,000 \\\hline\end{array}$$
B) $$\begin{array} { | c | r | r | } \hline \text { Cash } & 140,000 & \\\hline \text { Dividend Revenue } & & 140,000 \\\hline\end{array}$$
C) $$\begin{array} { | c | r | r | } \hline \text { Cash } & 140,000 & \\\hline \text { Long-term Investments-Grey Investments } & & 140,000 \\\hline\end{array}$$
D) $$\begin{array} { | c | r | r | } \hline \text { Cash } & 140,000 & \\\hline \text { Long-term Investments-Glitter Services } & & 140,000 \\\hline\end{array}$$