The board of directors of Tamarisk, Inc. declared a cash dividend of $1.95 per share on 33000 shares of common stock on July 15, 2020. The dividend is to be paid on August 15, 2020, to stockholders of record on July 31, 2020. The correct entry to be recorded on August 15, 2020, will include a O debit to Cash Dividends. O debit to Dividends Payable. O credit to Cash Dividends. credit to Dividends Payable.
The board of directors of Tamarisk, Inc. declared a cash dividend of $1.95 per share on 33000 shares of common stock on July 15, 2020. The dividend is to be paid on August 15, 2020, to stockholders of record on July 31, 2020. The correct entry to be recorded on August 15, 2020, will include a O debit to Cash Dividends. O debit to Dividends Payable. O credit to Cash Dividends. credit to Dividends Payable.
Chapter15: Dividend Policy
Section: Chapter Questions
Problem 14P
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Question
![The board of directors of Tamarisk, Inc. declared a cash dividend of $1.95 per share on 33000 shares of common stock on July 15, 2020.
The dividend is to be paid on August 15, 2020, to stockholders of record on July 31, 2020. The correct entry to be recorded on August 15,
2020, will include a
O debit to Cash Dividends.
O debit to Dividends Payable.
O credit to Cash Dividends.
O credit to Dividends Payable.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9829afb7-6ba0-4bc4-ba8c-f72ba2aef7e8%2F877652f6-76ec-4085-b152-37cadff2632b%2Fgbbw6s_processed.png&w=3840&q=75)
Transcribed Image Text:The board of directors of Tamarisk, Inc. declared a cash dividend of $1.95 per share on 33000 shares of common stock on July 15, 2020.
The dividend is to be paid on August 15, 2020, to stockholders of record on July 31, 2020. The correct entry to be recorded on August 15,
2020, will include a
O debit to Cash Dividends.
O debit to Dividends Payable.
O credit to Cash Dividends.
O credit to Dividends Payable.
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