Question
The shareholders' equity section of Bogart Corporation at December 31, 2023, included the following: $3 preferred shares, cumulative, 10,000 shares authorized, 9,000 shares issued ........................................
The shareholders' equity section of Bogart Corporation at December 31, 2023, included the following: $3 preferred shares, cumulative, 10,000 shares authorized, 9,000 shares issued ........................................ $ 900,000 Common shares, 500,000 shares authorized, 400,000 shares issued ............. 2,000,000 Dividends were not declared on the preferred shares in 2023 and are in arrears. On September 15, 2024, the board of directors declared dividends on the preferred shares for 2023 and 2024, to shareholders of record on October 1, 2024, payable on October 15, 2024. On November 1, 2024, the board of directors declared a $0.50 per share dividend on the common shares, payable November 30, 2024, to shareholders of record on November 15, 2024. Instructions Prepare the journal entries that should be made by Bogart Corporation on the following dates in 2024: September 15, October 1, October 15, November 1, November 15, and November 30. If no entry is needed write "No entry required.
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