Micron owns 30% of JVT Corp's common shares and has significant influence over JVT's operations.Micron receives $6,500 in dividends from JVT.The entry to record receipt of the dividends includes a debit to Cash for $6,500 and a credit to Investment in JVT Shares for $6,500.

Question

Quizplus · Accepted Answer

This entry correctly records the receipt of dividends from the investment in JVT shares.

Micron Owns 30% of JVT Corp's Common Shares and Has