On March 1st, the board of directors of Bubbly Beverage declares a cash dividend of $70,000. The date of record is March 15th, and the dividend will be paid on March 30th. Record all of the journal entries related to this dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 1) Record the declaration of cash dividends. 2) Record the entry on the date of record. 3) Record the payment of cash dividends.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On March 1st, the board of directors of Bubbly Beverage declares a cash dividend of $70,000. The date of record is March 15th, and the dividend will be paid on March 30th.


Record all of the journal entries related to this dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

1) Record the declaration of cash dividends.

2) Record the entry on the date of record.

3) Record the payment of cash dividends.

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