Use the below information to answer Question 40 and 41 On March 1, 2018, Rawlins Company invests $25,000 in Ashton pays Rawlins a $800 dividend on September 30, 2018. Rawlins November 30, 2018 for $23,500. Company stock. Ashton sells the Ashton stock on Assume the investment is categorized as a short-ternm t and that Rawlins does not have significant influence over Ashton 40. What is the correct transaction on September 30, 20187 A. idend Revenue Cash B. Dividend Revenue C. uity Investments-Johnson Company Cash 20,000 D. sh Equity Investments-Johnson Company 41. Which of the following is the correct regarding the transaction on November 30, 20187 A. Debit Loss on Disposal of $1,500 B. Credit Loss on Disposal of $1,500 C. Debit Gain on Disposal of $1,500 D. Credit Gain on Disposal of $1,500 42. John, Inc. pays $1,350 to acquire 13% of voting stock of Blue Investments, Inc. on March 5, 2011. On July 13, 2012, John sold all voting stock of Blue Investments, Inc. for $1,350. Which of the following is the correct journal entry for the transaction on July 13, 2011? A. uity Investments -Blue Investments, Inc. Cash B. ommon Stock Holdings- Blue Investments, Inc Cash 1,350 1,350 C. ash Equity Investments-Blue Investments, Inc. 1,350 D. sh 1,3 Revenue from Investments 1,35