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Maurice Corporation invested $100,000 to acquire 20,000 shares of Delta Technologies on March 1, 2015. On July 2, 2015, Delta pays a cash dividend of
Maurice Corporation invested $100,000 to acquire 20,000 shares of Delta Technologies on March 1, 2015. On July 2, 2015, Delta pays a cash dividend of $0.25 per share. The investment is classified as an :EQUITY INVESTMENT Which of the following is the correct journal entry to record the transaction on July 2, 2015? A) Cash 5,000 Long-term Investments Available-for-Sale 5,000 5,000 B) Cash Long-term Investments-Trading Investments 5,000 5,000 C) Cash Long-term Investments-Held-to-Maturity 5,000 5,000 D) Cash Dividend Revenue 5,000
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