All State Services,Inc.acquired 100,000 shares of Omega Metals,Inc.on January 1,2018.Omega pays a cash dividend of $0.25 per share on March 2,2019.With the current investment,All State Services,Inc.holds 8% of Omega.In the journal entry on March 2,2019,________.
A) Equity Investments is credited
B) Dividend Revenue is credited
C) Equity Investments is debited
D) Cash Dividends is credited
Correct Answer:
Verified
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