On 1 July 20X0 Myall Ltd Acquired 25% of the Voting

On 1 July 20X0 Myall Ltd acquired 25% of the voting shares of Kenny Company for $400 000 in cash.On 30 June 20X1 Kenny Company paid a total dividend to its shareholders of $40 000.The journal entry made in Myall Ltd's accounts to record the receipt of the dividend is:

A) debit cash at bank $10 000; credit investment in K Company $10 000
B) debit cash at bank $10 000; credit dividend income $10 000
C) debit cash at bank $40 000; credit dividend income $40 000
D) debit cash at bank $40 000; credit Investment in K Company $40 000