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McVeigh Corp. owns 40% of Gondor Company's common stock. McVeigh received $56,800 in cash dividends from Gondor. The entry to record the cash dividend
McVeigh Corp. owns 40% of Gondor Company's common stock. McVeigh received $56,800 in cash dividends from Gondor. The entry to record the cash dividend received from Gondor would include a: Multiple Choice Credit to Equity Method Investments for $142,000. Debit to Dividend Revenue for $56,800. O Debit to Dividends for $142,000. O Credit to Equity Method Investments for $56,800. Credit to Cash for $56,800.
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