Micron owns 16% of JVT as an investment in an associate.JVT paid $78,000 in total dividends to its shareholders.Micron should record a:
A) Debit to Dividend Revenue for $78,000.
B) Debit to Dividend Revenue for $12,480.
C) Credit to Cash for $12,480.
D) Debit to Investment in JVT Common Shares for $12,480.
E) Credit to Investment in JVT Common Shares for $12,480.
Correct Answer:
Verified
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