The declaration, record, and payment dates in connection with a cash dividend of

Question

The declaration, record, and payment dates in connection with a cash dividend of $130,400 on a corporation’s common stock are January 12, March 13, and April 12.

Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTSGeneral Ledger

ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment

Explanation / Answer

12-Jan Cash Dividends 130400         Cash Dividends Payable 130400 13-Mar No entry 12-Apr Cash Dividends Payable 130400        Cash 130400

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