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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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