Green Services Inc.invests its excess cash in Creative Technologies Inc.and acquires 1,000 shares for $53.25 per share.Green Services Inc.owns less than 1% of Creative's voting stock and plans to hold the stock for two years.While preparing the journal entry to record this transaction,________.
A) Long-term Investments-Available-for-Sale will be debited for $53,250
B) Long-term Investments-Held-to-Maturity will be debited for $53,250
C) Long-term Investments-Trading Investments will be credited for $53,250
D) Long-term Investments-Significant Interest Investments will be debited for $53,250
Correct Answer:
Verified
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