4 pts Question 15 If a parent is using the cost method, what would be the appropriate journal entry for recording a cash dividend paid to it by its 70% owned subsidiary? Debit Cash & Credit Dividend Income Debit Dividend Income & Credit Cash Debit Investment in Sub & Credit Cash Debit Cash & Credit Investment in Sub No journal entry is needed 4 pts Question 14 With cash, Portlandia Corp. bought 80% of Salem Corp, for $100.000 over book value on Jan. 1. 20X6. At date of acquisition, Salem's stockholder equity section contained Common Stock & Retained Earnings. During 20X6, Salem Co. eamed income (not a loss) & paid dividends. Portlandia made all required joumal entries using the equity method On Portlandia's books, which is the correct journal entry to record dividends Salem paid to Portlandia during 20x6: Debit Cash & Credit Investment in Salem Debit Cash & Credit Income from Salem