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Question 14 (3 points) Item 14, 15 and 16 are related to a stock investment of 30% by ASU Corporation. On January 1, ASU

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Question 14 (3 points) Item 14, 15 and 16 are related to a stock investment of 30% by ASU Corporation. On January 1, ASU Corporation acquired 30% of the outstanding stock of Darton Company for $300,000. The journal entry to record this transaction is Debit--Investment, 300,000; Credit- -Cash, 300,000 No entry required Debit--Investment, 90,000; Credit- -Cash, 90,000 O Debit- -Cash, 300,000; Credit- -Investment, 300,000

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