Power Generation Corp.owns 38% of Electric Limited.Net income for Electric Limited for the year ending December 31,2017,is $450,000.The journal entry prepared by Power Generation Corp.on December 31,2017,includes a:
A) debit to Cash for $171,000
B) credit to Long-Term Investment for $171,000
C) debit to Long-Term Investment for $450,000
D) debit to Long-Term Investment for $171,000
Correct Answer:
Verified
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