Red Limited acquired a 40% investment in Blue Limited for $1,000,000. Blue declared and paid a dividend

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Red Limited acquired a 40% investment in Blue Limited for $1,000,000. Blue declared and paid a dividend of $20,000 during the current year. Red Limited does not prepare consolidated financial statements. Which of the following is the appropriate entry for Red Limitedto record this dividend?

Posted Date: Jun 18, 2024 11:04 PM

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Red Limited acquired a 40% investment in Blue Limited for $1,000,000. Blue declared and paid a dividend

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