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Instructions The declaration, record, and payment dates in connection with a cash dividend of $130,400 on a corporations com
I cant figure out why its not 130,400 & appreantly its not retained earnings.
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Date Account Titles and Explanation Debit Credit
Jan-12 Cash Dividends $ 130,400
   Cash Dividend payable   $ 130,400
( To record the Cash dividends )
Mar-13 No entry
Apr-12 Cash Dividends payable   $ 130,400
               Cash   $ 130,400
( To record dividend payment )
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