Pan Services,Inc B) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 102,400 & \\\hline \text { Dividend Revenue } & & 102,400 \\\hline\end{array}$$

Pan Services,Inc.owns 32% of voting stock of Grey Investments,Inc.During the year 2017,Grey Investments,Inc.earned profits of $320,000.Under the equity method,which of the following journal entries will Pan Services record?

A) $$\begin{array} { | l | r | r | } \hline \text { Long-term Investments-Grey Investments, Inc. } & 320,000 & \\\hline \text { Cash } & & 320,000 \\\hline\end{array}$$
B) $$\begin{array} { | l | r | r | } \hline \text { Cash } & 102,400 & \\\hline \text { Dividend Revenue } & & 102,400 \\\hline\end{array}$$
C) $$\begin{array} { | l| r | r | } \hline \text { Cash } & 102,400 & \\\hline \text { Long-term Investments-Grey Investments, Inc. } & & 102,400 \\\hline\end{array}$$
D) $$\begin{array} { | l | r | l | } \hline \text { Long-term Investments-Grey Investments, Inc. } & 102,400 & \\\hline \text { Revenue from Investments } & & 102,400 \\\hline\end{array}$$