20 minutes

Question 3 (12 points) Prepare journal entries to record the following transactions for X-cellino a) February 24 Declared a $230,000 cash dividend payable to common shareholders b) November 30 Paid the cash dividend to common shareholders. c) December 31 Closed the Cash Dividends account D Enter the transaction letter as the explanation, and dates in the format dd/mmm (e. 15/Jan) General Journal Account Explanation Page Gug F Debit Credit Date + +