journal entry Path: P QUESTION 4 Dec. 9 Brooks received a cash dividend of $.80 per...

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journal entry

Answer 1

Answer #1

Journal entry for receipt cash dividend:

Date	Account titles and Explanations	Debit	Credit
Dec. 9	Cash	$ 0.80
	Dividend Revenue		$ 0.80

Cash is Debited because Inflow of cash ; Debit what comes in as per rule of Real account; Under Balance sheet- Asset

Dividend Revenue is credited because it is an Income; Credit all income and gains as per rule of Nominal account; Under Income statement- Income

Note:

Dividend Revenue = Number of shares * Dividend per share

Answer 2

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