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Amazon Services, Inc. invests its excess cash in Nile Technologies, Inc. and acquires 6,000 shares for $62.00 per share. Amazon Services, Inc. owns less than
Amazon Services, Inc. invests its excess cash in Nile Technologies, Inc. and acquires 6,000 shares for $62.00 per share. Amazon Services, Inc. owns less than 2% of Nile's voting stock and plans to hold the stock for two years. While preparing the journal entry to record this transaction, O A. Common Stock is debited for $372,000 O B. An equity account is debited for $372,000 O C. Equity Investments is debited for $372,000 O D. Long-term Investments is credited for $372,000
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