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Multiple Choice Question 57 Sheffield Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2280 shares of Martinez Company (10%) for $58140 cash.
Multiple Choice Question 57 Sheffield Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2280 shares of Martinez Company (10%) for $58140 cash. June 1 Received cash dividends of $2 per share on Martinez stock. Oct. 1 Sold 1230 shares of Martinez stock for $33210. The entry to record the receipt of the dividends on June 1 would include a debit to Stock Investments for $4560. credit to Dividend Revenue for $4560. O O O credit to Stock Investments for $4560. debit to Dividend Revenue for $4560
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