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On 15 January 2020, Poskie Ltd, which has monthly accounting periods, declared a $10,000 dividend to its shareholders, payable the following month. Poskie's general ledger
On 15 January 2020, Poskie Ltd, which has monthly accounting periods, declared a $10,000 dividend to its shareholders, payable the following month. Poskie's general ledger includes the following accounts, among others: Cash, Dividends Receivable, Accounts Payable, Dividends Payable, Dividends, and Dividend Revenue. Required: If you conclude that this event should be recorded on 15 January, prepare a residual analysis (like those demonstrated in lecture and tutorials) to justify which account should be debited and which account should be credited. Format your answer by copying and pasting the following bold face into the answer box provided; however, please do not use bold face in your answer itself. Effect on assets and explanation: Effect on liabilities and explanation: Effect on equity and explanation: Account to debit and account to credit
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