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Sheridan Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2160 shares of Ayayai Company (10%) for $55080 cash. June 1 Received cash
Sheridan Company had these transactions pertaining to stock investments: Feb. 1 Purchased 2160 shares of Ayayai Company (10%) for $55080 cash. June 1 Received cash dividends of $2 per share on Ayayai stock. Oct. 1 Sold 1210 shares of Ayayai stock for $32670. The entry to record the receipt of the dividends on June 1 would include a
credit to Stock Investments for $4320.
debit to Stock Investments for $4320. |
| credit to Dividend Revenue for $4320. |
| debit to Dividend Revenue for $4320. |
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