Adkins Appliances buys 10,000 shares of stock in Charlie Company for $10 per share on January 2 of the current year. Adkins owns 35% of Charlie Companyâs voting stock, has significant influence in decision making, and intends to hold on to it for several years. On March 31, a $2.50 per share dividend is paid. What is the journal entry to record the dividend received?
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