Jen Company declared a $0.25 per share cash dividend. The company has 500,000 shares authorized, 400,000 shares issued, and 25,000 shares in treasury stock. Required: Prepare the journal entry to record the payment of the dividend.
Jen Company declared a $0.25 per share cash dividend. The company has 500,000 shares authorized, 400,000 shares issued, and 25,000 shares in treasury stock. Required: Prepare the journal entry to record the payment of the dividend.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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please provide compulsory explanation , narration , computation clearly for each part and steps answer in text form
Transcribed Image Text:Jen Company declared a $0.25 per share cash dividend. The company has 500,000 shares authorized, 400,000 shares issued, and 25,000 shares in treasury stock.
Required: Prepare the journal entry to record the payment of the dividend.
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