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Cash Dividends On January 15, the board of directors declared a cash dividend of $8.000 payable to common shareholders of record as of January 10'
Cash Dividends On January 15, the board of directors declared a cash dividend of $8.000 payable to common shareholders of record as of January 10' and paid on January 31" No other dividends were declared during the year. At year-end on December 31, 585,000 in a loss had been realized. Prepare all required journal entries: a) associated with the cash dividend and b) to close Income Summary NOTE - If no entry is required for a particular date, select "No Entry for the account name in all appropriate places in a journal entry and enter for the wount January 15 Date Account Titles and Explanation PR Debit Credit January 19 Date Account Titles and Explanation PR Debit Credit January 31 PR Dobit Credit Date Account Titles and Explanation December 31 - Close Income Summary PR Debit Credit Account Titles and Explanation
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