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Motor City, Incorporated purchased 55,000 shares of Shaw common stock for $262.000. This represents 40% of the outstanding stock. The entry to record the transaction

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Motor City, Incorporated purchased 55,000 shares of Shaw common stock for $262.000. This represents 40% of the outstanding stock. The entry to record the transaction includes: Multiple Choice Debit to Debt tovestments for $262,000 Debit to Short Term Investment Available for Sale (AFS) for $262.000, Dobit to Equity Method investments for $262.000 Debit to Long-Term Investments Hold-to-maturity OfTM) for $262.000 Cruto Equity Method investments for $262.000

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