ALT-CASH DIVIDENDS There are five exercises. Pick a number, 1-5: Debit Credit 0 0 On 12/31/17, the Income Summary account of Trend Corporation had a credit balance of $80,000. Show the entry to close the net income. 0 On 01/05/18, the company declared a $.25 per share dividend on its 100,000 common shares outstanding. Show the appropriate entry. 0 Date General Journal 1 12/31/17 2 3 4 01/05/18 5 6 7 01/20/18 8 9 10 01/31/18 11 12 13 0 The record date is 01/20/18. Choose "NO ENTRY" from the accounts; leave the amounts blank. On that date, the corporation determines which stockholders will receive payment. On 01/31/18, the dividend was paid. Make the appropriate entry. OO Free space 5 3 2 3 1 CASH DIVIDEND +