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  3. on october 31, mayfair co. received cash dividends

On October 31, Mayfair Co. received cash dividends of $0.15 per share from its investments...

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Accounting

On October 31, Mayfair Co. received cash dividends of $0.15 per share from its investments in Carter Corp.'s common stock. Mayfair owned 1,200 shares of Carter Corp's stock on October 31. The investment is considered available for sale. Prepare the investor's journal entry to record the receipt of the cash dividends.

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