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The journal entry to record the declaration of a cash dividend is: O Debit Retained Earnings, Credit Cash O Debit Cash Dividends, Credit Dividends Payable O Debit Dividends Payable, Credit Cash Dividends O None of the other answers are correct

The journal entry to record the declaration of a cash dividend is: O Debit Retained Earnings, Credit Cash O Debit Cash Dividends, Credit Dividends Payable O Debit Dividends Payable, Credit Cash Dividends O None of the other answers are correct

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The journal entry to record the declaration of a cash dividend is: O Debit Retained Earnings, Credit Cash Debit Cash Dividends, Credit Dividends Payable Debit Dividends Payable, Credit Cash Dividends O None of the other answers are correct
Transcribed Image Text:The journal entry to record the declaration of a cash dividend is: O Debit Retained Earnings, Credit Cash Debit Cash Dividends, Credit Dividends Payable Debit Dividends Payable, Credit Cash Dividends O None of the other answers are correct
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