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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Pan Services, Inc. owns 32% of voting stock of Grey Investments, Inc. During the year 2017, Grey Investments, Inc. earned profits of $320,000. Under the equity method, which of the following journal entries will Pan Services record?

A) Long-term InvestmentsGrey Investments, Inc.   102,400   
     Revenue from Investments      102,400

B) Cash   102,400   
     Long-term InvestmentsGrey Investments, Inc.      102,400

C) Cash   102,400   
     Dividend Revenue      102,400

D) Long-term InvestmentsGrey Investments, Inc.   320,000   
     Cash      320,000
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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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3 years ago
Thank you
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