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7 April, 06:36

The declaration, record, and payment dates in connection with a cash dividend of $91,400 on a corporation's common stock are July 9, August 31, and October 1. Journalize the entries required on each date.

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  1. 7 April, 08:29
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    The journal entries are shown below:

    On July 9

    Cash dividend A/c Dr $91,400

    To Dividend payable $91,400

    (Being cash dividend declared)

    On August 31

    No journal entry is required as no transaction took place

    On October 1

    Cash dividend payable A/c Dr $91,400

    To Cash A/c $91,400

    (Being payment of dividend is recorded)
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Home » Business » The declaration, record, and payment dates in connection with a cash dividend of $91,400 on a corporation's common stock are July 9, August 31, and October 1. Journalize the entries required on each date.
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