Question

Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend of $69,000 on a corporation's common stock are October 1, November 7, and December 15. Journalize the entries required on each date. If no entry is required, choose "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Oct. 1 Cash Dividends ✓ Cash Dividends Payable Nov. 7 No Entry Required No Entry Required Dec. 15 Cash Dividends Payable Cash V

Answer 1

Solution:

Date	Account titles	Debit	Credit
1-Oct	Cash Dividends	69000
	Cash Dividends payable		69000
7-Nov	No Entry Required
	No Entry Required
15-Dec	Cash Dividends Payable	69000
	Cash		69000