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need help on accounting HW Aspen Corporation has issued 10,000 shares of $5 par value common stock, 9.500 shares are outstanding. On November 15, 2019,
need help on accounting HW
Aspen Corporation has issued 10,000 shares of $5 par value common stock, 9.500 shares are outstanding. On November 15, 2019, Aspen's board of directors declares a cash dividend of $2.00 per share payable on December 15, 2019, to stockholders of record on December 1, 2019. The journal entry necessary on December 15 would include: Adebit to Dividends Payable for $20,000, and a credit to Cash for $20.000 Adebit to Retained Earnings for $19.000, and a credit to Dividends Payable for $19.000. Adebit to Dividends Payable for $19.000, and a credit to Cash for $19.000 A debit to Retained Earnings for $19.000, and a credit to Cash for $19.000Step by Step Solution
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