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Perdue Company had the following transactions pertaining to stock investments: - February 1, Purchased 3,000 shares of Hudson Company (10% ownership) at the market price of $17 per share.
- June 1, Received cash dividends of $6,000 on Hudson Company stock.
- October 1, Sold 3,000 shares of Hudson stock for $54,000.
The entry to record the receipt of the dividends would include a:
Chief Accounting Officer
This is an executive role responsible for overseeing the accounting operations and financial reporting of a company.
Corporation
A legal entity that is separate from its owners, who own shares in the company and have limited liability.
Controller
A senior executive responsible for the accounting operations and financial reporting of a company.
Board of Directors
A group of individuals elected by shareholders to oversee the management and make key decisions for a corporation.
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