Answer c

Heidebrecht Design acquired 25% of the outstanding common stock of Crane Company on January 1, 2020, by paying $988,000 for the 49,400 shares. Crane declared and paid $o.50 per share cash dividends on March 15, June 15, September 15, and December 15, 2020. Crane reported net income of $313,000 for the year. At December 31, 2020, the market price of Crane common stock was $27 per share. Your answer is partially correct. Try again. Prepare the journal entries for Heidebrecht Design for 2020 assuming Heidebrecht Design cannot exercise significant influence over Crane. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) a) Date Account Titles and Explanation Debit Credit ar Dan. 1 Revenue from Stock Investments 8800 98900 Da as 8800 24700 ar. 15 Cash 24700 [124700 ) ividend Revenu une 15 Cash ividend Revenu 470 ept. 1 as 24700 [ 24700 ividend Revenu ne 247001 1 Dividend Revenu Dec. 31 Stock Investments nrealized Gain or Loss-Incom T-11345800