Roe Corporation owns 2,000 shares of WRJ Corporation stock. WRJ Corporation has 25,000 shares of stock outstanding. WRJ paid $4 per share in cash dividends to its stockholders. The entry to record the receipt of these dividends by Roe is:
A. Debit Cash, $8,000; credit Debt Investments, $8,000.
B. Debit Unrealized Gain-Equity, $8,000; credit Cash, $8,000.
C. Debit Cash, $8,000; credit Dividend Revenue, $8,000.
D. Debt Debt Investment, $8,000; credit Cash, $8,000.
E. Debit Cash, $8,000; credit Unrealized Gain-Equity, $8,000.
Answer: C
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