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Lessington Corporation purchases 4,000 shares of Gonzalez Company common stock for $150,000 cash. Gonzalez has 500,000 shares of stock currently outstanding. Lessington's entry to
Lessington Corporation purchases 4,000 shares of Gonzalez Company common stock for $150,000 cash. Gonzalez has 500,000 shares of stock currently outstanding. Lessington's entry to record the purchase would include a: Select one: Oa. Debit to Stock Investments for $150,000. O b. Credit to Common Stock for $150,000. Oc. Credit Equity Method Investment $150,000. d. Debit to Long-Term Investments-AFS for $150,000. e. Debit to Equity Method Investment for $150,000 NEXT PAGE
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