HW 10 # 6

On February 5, 2021, Fast Rental Corporation's board of directors deciared a dividend of $0.20, to be paid on March 18,2021 , to the shareholders of record as of the close of business on March 9, 2021. Fast has 5,500,000 shares of $0.01 par-value common stock authorized with 1,000,000 shares issued and outstanding. The company has no preferred stock. Record the declaration of the dividend and the payment of the dividend. Include the proper dates with each joumal entry. (Record debits first, then credits. Exclude explanations from any journal entries.) Record the journal entry for the declaration of the dividend. Be sure to select the proper date for the entry. the journal entry for the declaration of the dividend. Be sure to select the proper date for the entry