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Problem 4 (6 marks) On October 8, the board of directors of a company with 4,000 common shares outstanding declared a $2 per share dividend

Problem 4 (6 marks)

On October 8, the board of directors of a company with 4,000 common shares outstanding declared a $2 per share dividend payable December 15 to the shareholders of record on November 1.

Record journal entry on October 8 (date of declaration)

Record journal entry on November 1 (date of record)

Record journal entry on December 15 (date of payment)

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