Oriole Inc. declared a cash dividend of $2.00 per share on its 5 million outstanding shares. The dividend was declared on August 1, payable on September 9 to all stockholders of record on August 15. Prepare all journal entries necessary on those three dates. (List all debit entries before credit entries. Enter answers in dollars. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit
Oriole Inc. declared a cash dividend of $2.00 per share on its 5 million outstanding shares. The dividend was declared on August 1, payable on September 9 to all stockholders of record on August 15. Prepare all journal entries necessary on those three dates. (List all debit entries before credit entries. Enter answers in dollars. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Oriole Inc. declared a cash dividend of $2.00 per share on its 5 million outstanding shares. The dividend was declared on August 1,
payable on September 9 to all stockholders of record on August 15.
Prepare all journal entries necessary on those three dates. (List all debit entries before credit entries. Enter answers in dollars. Credit
account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the
account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.)
Date
Account Titles and Explanation
Debit
Credit
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