Sunland Mining Company declared, on April 20, a dividend of $480,000 payable on June 1. Of this amount, $129,000 is a return of capital. Prepare the April 20 and June 1 entries for Sunland. (List all debit entries before credit entries. 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.) Date Apr. 20 Account Titles and Explanation Deb June 1

Sunland Mining Company declared, on April 20, a dividend of $480,000 payable on June 1. Of this amount, $129,000 is a return of capital. Prepare the April 20 and June 1 entries for Sunland. (List all debit entries before credit entries. 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.) Date Apr. 20 Account Titles and Explanation Deb June 1

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....

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