Solution :-
Journal entries for April and May :-
Date | Particulars | Debit | Credit |
April 4 | Preferred shares Amount | $4,000 | |
Cash | $4,000 | ||
May 1 | Declared dividends | $15,000 | |
Cash | $15,000 | ||
May 20 | Distribution of dividends | $1,500 | |
Cash | $1,500 | ||
May 24 | Declared dividends | $15,000 | |
Cash | $15,000 |
Do journal entries for april and may, and show work on how to do calculations Exam...
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