Entries for Cash Dividends

The declaration, record, and payment dates in connection with a cash dividend of $$95,000$ on a

corporation's common stock are October $1,$ November $7,$ and December $15.$

Journalize the entries required on each date. If no entry is required, choose $"$No Entry Required" and

leave the amount boxes blank. If an amount box does not require an entry, leave it blank.

Oct. $1$

$x$

Cash Dividends Payable $$

$x$

Nov. $7$

Dec. $15$

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Are the dividends beino paid on the same date that they are declared? Who would receive the