The dates of importance in connection with a cash dividend of $75,000 on a corporation's common...

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Question

The dates of importance in connection with a cash dividend of $75,000 on a corporations common stock are January 15, Februar

Answer 1

Answer #1

Date	Account title and explanation	Debit	Credit
Jan-15	Cash Dividend	$ 75,000
	Cash Dividend Payable		$ 75,000

	(record of dividend payable)

Feb-15	No Entry


Mar-15	Cash Dividend payable	$ 75,000
	Cash		$ 75,000
	(dividend paid)

Answer 2

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