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K Wolverine Corporation owns 27% of Buckeye Corporation. Net income for Buckeye for the year is $230,000. The journal entry prepared by Wolverine Corporation is:
K Wolverine Corporation owns 27% of Buckeye Corporation. Net income for Buckeye for the year is $230,000. The journal entry prepared by Wolverine Corporation is: OA. debit Equity - method Investment for $62,100 and credit Equity - Method Investment Revenue for $62,100. B. debit Equity - method Investment for $62,100 and credit Cash for $62,100. C. debit Equity-method Investment for $230,000 and credit Equity - method Investment Revenue for $230,000. D. debit Cash for $62,100 and credit Equity-method Investment for $62,100
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