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On May 15, the board of directors declared a cash dividend of $50,000. The date of record is June 1 and the payment date
On May 15, the board of directors declared a cash dividend of $50,000. The date of record is June 1 and the payment date is June 20. The journal entry on June 20 would be OA no entry needed OB. Debt Retained Eamings, credit Dividends Payable. OC. Debit Cash, credit Dividends Payable OD. Debit Dendends Payable, credit Cash
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
