Pravis Corporation owns 30% of Kuster Corporation. Pravis Corporation received $9,000 in cash dividends from Kuster Corporation. The entry to record receipt of these dividends is:
A. Debit Unrealized Gain-Income, $9,000; credit Cash, $9,000.
B. Debit Cash, $9,000; credit Interest Revenue, $9,000.
C. Debit Cash, $9,000; credit Equity Method Investments, $9,000.
D. Debit Cash, $9,000; credit Dividend Revenue, $9,000.
E. Debt Equity Method Investment, $9,000; credit Cash, $9000.
Answer: C
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