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Firefox Edit View History Bookmarks Tools Window Help Q 8 Oct 6 16:37 842.406 million co Lu Homework: Corpo X Question 1 - Homewor X D (1767) This Drink i X Chat Thread C 8 ezto.mheducation.com/ext/map/index.html?_con=conexternal C G vanws Homework: Corporate Reporting ... Saved Help Save Exit Submit Search Q Check my work + Ask new Required 1 Required 2 Required 3 anwser for the next one Prepare journal entries to record each of these transactions. 2.27 Answer explanation by Al points View transaction list Entry for Jan 5 - declare $2 cash dividend eBook . Dr Retained Earnings 110,000 Journal entry worksheet Print . Cr Dividends Payable 110,000 References 3 4 5 6 7 8 Explanation: Record the payment of the cash dividend. Shares outstanding on declaration date = 60,000 issued - 5,000 held as treasury = 55,000. . Dividend = 55,000 x $2 = $110,000. Note: Enter debits before credits. . Declaration reduces retained earnings and creates a liability for dividends Date General Journal Debit Credit payable. February 28 Verify with tutor Ask Al your follow up question. Do not enter personal informatic G Record entry clear View general journal Image Document Mc Graw Hill 6 4 tv MO view