Micron purchased 40,000 Martok Corp common shares.This represents 40% of the outstanding shares.The purchase price was $232,000.The entry to record the transaction includes a:

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The purchase of 40,000 Martok Corp common shares at a price of $232,000 represents 40% of the outstanding shares. Therefore, the entry to record the transaction would be a debit of $232,000 to Investment in Martok Common Shares. The other choices, A, C, D, and E, are incorrect since they do not reflect the total cost of the shares purchased.

Micron Purchased 40,000 Martok Corp Common Shares