Acme owns 4,000 shares of XYZ.XYZ has 50,000 total shares of stock outstanding.XYZ paid $0.82 per share in cash dividends to its stockholders.Acme should record a:
A)Debit to Dividends for $41,000.
B)Debit to Dividends for $3,280.
C)Debit to Cash for $3,280.
D)Debit to Long-Term Investments for $3,280.
E)Credit to Long-Term Investments for $3,280.

Question

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The Answer of Acme owns 4,000 shares of XYZ.XYZ has 50,000 total shares of stock outstanding.XYZ paid $0.82 per share in cash dividends to its stockholders.Acme should record a:
A)Debit to Dividends for $41,000.
B)Debit to Dividends for $3,280.
C)Debit to Cash for $3,280.
D)Debit to Long-Term Investments for $3,280.
E)Credit to Long-Term Investments for $3,280.

Acme Owns 4,000 Shares of XYZ