DeRozen Company purchases 1,000 common shares (40%) of Tours…

DeRozen Company purchases 1,000 common shares (40%) of Tours of Toronto Incorporated as a long-term investment for $100,000 cash on July 1. Tours of Toronto paid $15,000 in total cash dividends on November 1 and reported net income of $150,000 for the year ended December 31. Prepare DeRozen’s journal entry to record the receipt of its share of Tours of Toronto’s November 1 dividends.