Ashbrook Services, Inc acquired 128,000 shares of Gamma Metals, Inc on January 1, 2017

Gamma declares a cash dividend of $2.00 per share on February 15, 2017 and pays the cash dividend on March 2, 2017. With the current investment, Ashbrook Services, Inc holds 11% of Gamma's voting stock. Which of the following will be the correct journal entry for the day when the dividend payment is made (March 2, 2017 )?

A)
Cash 256,000
Long-term Investments-Trading Investments 256,000

B)
Cash 256,000
Long-term Investments-Available-for-Sale 256,000

C) No Entry

D)
Cash 256,000
Dividend Revenue 256,000


D

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