The Norfolk Pine Co purchased 10,000 shares of Peperomia Ginny, Inc. on July 1 at a cost of $20 per share. On December 1, Norfolk Pine selfs 600 shares at a price of $22 share Norfolk Pine's entry to record this transaction will include a credit to Stock Investment for $12,000. debit to Common Stock for $12,000. credit to Common Stock for $13,200. credit to Stock Investment for $13.200. 19 Dividends received under the equity method of accounting (for stock ownership between 20% and 50%) would be recorded with a credit to Cash credit to Stock Investment. debit to Stock Investment credit to Dividend Revenue