McVeigh Corp. owns 40% of Gondor Company's common stock. McVeigh received $52,000 in cash dividends from Gondor. The entry to record this transaction should include a:
A. Credit to Equity Method Investments for $52,000.
B. Credit to Equity Method Investments for $130,000.
C. Debit to Dividend Revenue for $52,000.
D. Credit to Cash for $52,000.
E. Debit to Dividends for $130,000.
Answer: A
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