ABC Company purchased 4,500 shares of Teal Company's common stock for $18,000. Teal Company has $22,500 shares

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ABC Company purchased 4,500 shares of Teal Company's common stock for $18,000. Teal Company has $22,500 shares of stock outstanding. Teal Company pays dividends of $50,000 to its shareholders. ABC's journal entry to record the dividend receipt will include a a.credit to Investment in Teal Company for $50,000. b.debit to Cash for $50,000. c.credit to Investment in Teal Company for $10,000. d.debit to Investment in Teal Company for $50,000.

Posted Date: May 31, 2024 01:09 AM

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ABC Company purchased 4,500 shares of Teal Company's common stock for $18,000. Teal Company has $22,500 shares

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