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Montero Co. holds 100,000 common shares (40%) of ORD Corp, as a long-term investment ORD Corp. paid a $100.000 dividend on November 1, 2017, and

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Montero Co. holds 100,000 common shares (40%) of ORD Corp, as a long-term investment ORD Corp. paid a $100.000 dividend on November 1, 2017, and reported a net income of $700,000 for 2017 (a) & (b) Prepare entry to record the receipt of the dividend and the December 31, 2017, year-end adjustment required for the investment account Journal entry worksheet Record the receipt of the dividend. Note: Enter debits before credits. Date Nov 01 Debit Credit General Journal Cash Long-term investment-ORD Record entry Clear entry View general journal Journal entry worksheet

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