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Petsi Co. has 715,000 shares of common stock authorized to issue and 218,000 shares of common stock issued and outstanding during the year. On October
Petsi Co. has 715,000 shares of common stock authorized to issue and 218,000 shares of common stock issued and outstanding during the year. On October 1, 2023, the company's board of directors declared a cash dividend of $3.25 per share to common stockholders on record as of October 15, 2023. The company made the cash payment on October 31, 2023. On October 31, 2023 the company's journal entry should include a debit to
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