Business, 15.04.2020 01:28, whohelpme

Amazon Services, Inc. invests its excess cash in Nile Technologies, Inc. and acquires 6000 shares for $61.75 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) Equity Investments is debited for $370,500
B) Common Stock is debited for $370,500
C) Long-term Investments is credited for $370,500
D) An equity account is debited for $370,500

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Amazon Services, Inc. invests its excess cash in Nile Technologies, Inc. and acquires 6000 shares fo...