When the transaction is recorded in a journal entry

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Reference no: EM13755547

Maurice Financial Services invested $15,000 to acquire 3,750 shares of Delta Investments on March 15, 2012. This investment represents less than 20% of the investee's voting stock. On May 7, 2016, Maurice Financial Services sells 1,750 shares for $12,250. When the transaction is recorded in a journal entry:

A. Credit Long-term Investments—Available-for-Sale

B. Credit Gain on Disposal

C. Credit Cash

D. Debit Long-term Investments—Held-to-Maturity

Reference no: EM13755547

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