Doug Corp declared a 0 60 per share common dividend The company has 20,000 common shares authorized, with 6,000 shares issued and outstanding A possible journal entry to record the declaration is Cash Dividends 17,500 Common Dividend Payable 17,500 Retained Earnings 3,600 Common Dividend Payable 3,600 Common Dividends Payable 3,600 Cash 3,600 Common Dividends Payable 3,600 Cash Dividends 3,600 Common Dividends Payable 3,600 Retained Earnings 3,600

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Question: Doug Corp declared a 0.60 per share common dividend. The company has 20,000 common shares authorized, with 6,000 shares issued and outstanding. A possible journal

Doug Corp declared a 0.60 per share common dividend. The company has 20,000 common shares authorized, with 6,000 shares issued and outstanding. A possible journal entry to record the declaration is

Cash Dividends	17,500
Common Dividend Payable		17,500

Retained Earnings	3,600
Common Dividend Payable		3,600

Common Dividends Payable	3,600
Cash		3,600

Common Dividends Payable	3,600
Cash Dividends		3,600

Common Dividends Payable	3,600
Retained Earnings		3,600

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