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On November 1, 2014, Oster Company declared a dividend of $3.00 per share. Oster Companyhas 20,000 shares of common stock outstanding and no preferred stock.

On November 1, 2014, Oster Company declared a dividend of $3.00 per share. Oster Companyhas 20,000 shares of common stock outstanding and no preferred stock. The date of record is November 15, and the payment date is November 30, 2014. a) Provide the journal entry needed on November 30. b) Provide the journal entry needed for the declaration of dividends.

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