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  3. blue corporation owns 40% of jay corporation. if t

Blue Corporation owns 40% of Jay Corporation. If the investment is accounted for using the...

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Accounting

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Blue Corporation owns 40% of Jay Corporation. If the investment is accounted for using the equity method of accounting, and Jay Corporation pays a $50,000 dividend, Blue Corporation will: credit Investment Revenue for $50,000 credit Dividend Revenue for $20,000 credit the Investment in Jay Corporation Common Shares account for $20,000 debit the Investment in Jay Corporation Common Shares account for $20,000

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