Question
The Laramie Corporation has 118,800 $1.5 noncumulative preferred shares that have been issued. It declares a quarterly cash dividend on May 15 to shareholders of
The Laramie Corporation has 118,800 $1.5 noncumulative preferred shares that have been issued. It declares a quarterly cash dividend on May 15 to shareholders of record on June 10. The dividend is paid on June 30. Prepare the entries on the appropriate dates to record the cash dividend. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
May 15 | enter an account title for the journal entry on may 15 | enter a debit amount | enter a credit amount |
enter an account title for the journal entry on may 15 | enter a debit amount | enter a credit amount | |
June 10 | enter an account title for the journal entry on june 10 | enter a debit amount | enter a credit amount |
enter an account title for the journal entry on june 10 | enter a debit amount | enter a credit amount | |
June 30 | enter an account title for the journal entry on june 30 | enter a debit amount | enter a credit amount |
enter an account title for the journal entry on june 30 | enter a debit amount | enter a credit amount |
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