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If Wabasso Company pays $55,000 in dividends to its corporate investor Lament Corporation (Lament owns 35% of The Wabasso Company), what entry should Lament Corporation

If Wabasso Company pays $55,000 in dividends to its corporate investor Lament Corporation (Lament owns 35% of The Wabasso Company), what entry should Lament Corporation record when it receives the dividends?

a.

Cash 55,000

Dividend Income 55,000

b.

Cash 55,000

Investment Income 55,000

c.

Cash 55,000

Investment in Wabasso Company 55,000

d.

Cash 55,000

Additional Paid-in Capital 55,000

e.

Cash 55,000

Common Stock- Wabasso Company 55,000

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