McVeigh Corp. owns 40% of Gondor Company's common stock. McVeigh received $41,200 in cash dividends from Gondor. The entry to record the cash dividend received from Gondor would include a:
A. Credit to Cash for $41,200.
B. Debit to Dividends for $103,000.
C. Credit to Equity Method Investments for $103,000.
D. Debit to Dividend Revenue for $41,200.
E. Credit to Equity Method Investments for $41,200.
Answer: E
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