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Answered: - Hi- Here are my choices on that one... No entry on December 31


Hi-

Here are my choices on that one...

No entry on December 31 because the dividends were paid on different dates.

Debit investment in Gamma Ray Corp., $45,000; credit income from Gamma Ray Corp., $45,000.

Debit investment in Gamma Ray Corp., $75,000; credit income from Gamma Ray Corp., $75,000.

Debit investment in Gamma Ray Corp., $75,000; credit income from Gamma Ray Corp., $45,000; credit dividends income, $30,000.

 

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Oct 07, 2020

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