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H3Ko H3Ko
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Aurum Services, Inc. acquired 100,000 shares of Gamma Metals, Inc. on January 1, 2017. Gamma pays a cash dividend of $0.25 per share on March 2, 2017. With the current investment, Aurum Services, Inc. holds 8% of Gamma. In the journal entry on March 2, 2017, ________.
A) Long-term InvestmentsHeld-to-Maturity is debited
B) Long-term InvestmentsAvailable-for-Sale is debited
C) Long-term InvestmentsAvailable-for-Sale is credited
D) Dividend Revenue is credited
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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4 years ago
COOL
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