Homework Answers
Journal entry
| No | Date | General Journal | Debit | Credit |
| 1 | Apr 01 | Cash dividend (575000*.60) | 345000 | |
| Dividend payable | 345000 | |||
| b | May 26 | No journal entry required | ||
| c | May 31 | Dividend payable | 345000 | |
| Cash | 345000 | |||
| d | June 30 | Retained earnings | 345000 | |
| Cash dividend | 345000 | |||
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