Grantham Corporation purchases 5% (200 shares) at $14 per share of stock in Douglas Corporation on January

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Question:

Grantham Corporation purchases 5% (200 shares) at $14 per share of stock in Douglas Corporation on January 1, 2015. Dividends are issued at $2 per share annually.

Dividends are issued at $3 per share annually Please complete the journal entry for Douglas Corporation when received the dividend payment from Grantham Corporation.