Question
On April 21, 2018, Row companys Board of Directors approved a dividend of $50,000. The date of record is April 28, and the company pays
On April 21, 2018, Row companys Board of Directors approved a dividend of $50,000. The date of record is April 28, and the company pays the dividend on May 1. On which of the following days does the company record a journal entry to reduce Retained Earnings?
a. April 21
b. April 28
c. May 1
d. May 2
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
16th edition
978-1259307416
