In 2024, Nagen Company had the following share investment transactions:
Feb.
1 Purchased 2,000 shares of Horton Company (10%) for ₤34,000 cash.
June
1 Received cash dividends of ₤2 per share on Horton shares.
Oct.
1 Sold 800 Horton shares for ₤15,600.The entry to record the receipt of the dividends on June 1 would include a
Select one:
a. debit to Share Investments for ₤4,000.
b. debit to Dividend Revenue for ₤4,000.
c. credit to Dividend Revenue for ₤4,000.
d. credit to Share Investments for ₤4,000.
Feb.
1 Purchased 2,000 shares of Horton Company (10%) for ₤34,000 cash.
June
1 Received cash dividends of ₤2 per share on Horton shares.
Oct.
1 Sold 800 Horton shares for ₤15,600.The entry to record the receipt of the dividends on June 1 would include a
Select one:
a. debit to Share Investments for ₤4,000.
b. debit to Dividend Revenue for ₤4,000.
c. credit to Dividend Revenue for ₤4,000.
d. credit to Share Investments for ₤4,000.