Harvey Company increased its ownership in Washington Company from 70% to 90% by the purchase of additional shares of the Washington's outstanding stock from noncontrolling shareholders for a purchase price of $300,000. Immediately prior to the transaction, Harvey's consolidated balance sheet included a noncontrolling interest balance of $1,000,000.

17.The journal entry by Harvey to record the purchase includes a net:

a.Equity investment debit, $333,333

b.Equity investment debit, $300,000

c.Equity investment debit, $33,333

d.Equity investment debit, $200,000