B education.wiley.com lEl i'i ' a ' I NWP Assessment Player Ul Application 6 Final Exam - Fall 2022 Question 9 oin /i E View Policies Current Attempt in Progress On November 27, the board of directors of Armstrong Company declared a $50 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Armstrong has 25,500 shares of $1 par common stock outstanding at November 27. Journalize the entries needed on the declaration and payment dates. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. if no entry is required, select "No Entry\" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 4 4 eTextbook and Media List of Accounts 6 Save for Later Attempts: 0 of 1 used v ... Accounts Payable Accounts Receivable Accumulated Depreciation Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accumulated Other Comprehensive Income Accumulated Other Comprehensive Loss Allowance for Doubtful Accounts Bad Debt Expense Buildings Cash Cash Dividends Common Dividends Payable Common Stock Common Stock Dividends Distributable Cost of Goods SoldE education.wiley.com IE] Finai E ' , ' NWP Assessment Player Ul Application 6 Final Exam - Fall 2022 Question 9 of 10 /1 E Depreciation Expense Dividends Dividends Payable Equipment Gain on Sale of Stock Income Summary Income Tax Expense Income Tax Payable Insurance Expense Interest Expense Interest Payable Inventory Land Loss on Disposal of Plant Assets No Entry 0 Notes Payable v ... No Entry Notes Payable Operating Expenses Organization Expense Other Operating Expenses Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Patents Preferred Dividends Payable Preferred Stock Prepaid Expenses Prepaid Insurance Professional Fees Retained Earningsv ... Preferred Stock Prepaid Expenses Prepaid Insurance Professional Fees Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Service Revenue Stock Dividends Supplies Supplies Expense Treasury Stock Unearned Service Revenue Utilities Expense