Business, 18.07.2020 01:01 Poohbear6583

Amazon Services, Inc. invests its excess cash in Nile Technologies, Inc. and acquires 6,000 shares for $62.00 per share. Amazon Services, Inc. owns less than 2% of Nile's voting stock and plans to hold the stock for two years. While preparing the journal entry to record this transaction:. A. Common Stock is debited for $372,000
B. An equity account is debited for $372,000
C. Equity Investments is debited for $372,000
D. Long-term Investments is credited for $372,000

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