Buford Industries owns 45% of Appalachian Company. For the current year, Appalachian reports net income of $250,000 and declares and pays a $70,000 cash dividend. Which of the following correctly presents the journal entries to record Buford's equity in Appalachian net income and the receipt of dividends from Appalachian? 
Definitions:
Flexibility
The ability to adapt quickly and effectively to new conditions, changes, and challenges.
Multiple Dimensions
A concept that refers to the existence of multiple aspects or features within a single entity or phenomenon, allowing for analysis from various perspectives.
Effective Performance Appraisal
A systematic process of evaluating employee performance and providing feedback to improve future performance.
Equitability
The quality of being fair and impartial, often used in the context of distributions of resources or treatment.
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