Base Electronics buys 5,000 common shares of Blue Mission Corp. for $10 per share on January 2 of the current year. Base owns 34% of Blue Mission voting shares, has significant influence in decision making, and intends to hold on to this investment for several years. On March 31, a $1.50 per share dividend is paid. What journal entry would Base make to record the dividend received?

Answer rating: 100% (QA)

The journal entry to record the dividend received by Base Electronics ... View the full answer