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04-11-2020
Business

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Sells Company accounts for its investment in OFO, Inc. under the available-for-sale method. How should Sells Company record a cash dividend received from OFO

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jepessoa jepessoa

09-11-2020

Answer:

the journal entry should be:

Dr Cash X

Cr Dividend revenue X

When a company holds securities as an investment and classifies them as available for sale (AFS), any dividends received will be recorded as revenue.

Dividend revenue is reported in the income statement.

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