Homework Help: record declaration and payment of cash dividend

Posted by Wanda Floyd on Friday, April 27, 2007 at 2:37pm.

How are entries recorded for the declaration and payment of cash dividends.
A Corportation has 50,000 shares of common stock outstanding. It declares a $2 per share cash d ividend on November 1 to stockholders of record on d=december 1. The dividend is paid on December 31 Prepare the entries on the appropriate dates the declaration and payment of the cash dividend

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