On 12/15/2020, Abbott paid a $100 dividend in CASH. The ownership structure is as follows: Erin Rogers own 50% of the outstanding shares, Giannis Antetokoumpo owns 20% of the outstanding shares and Lawrence J. Abbott owns 30% of the outstanding shares. Please give the journal entry.

Answer rating: 100% (QA)

The journal entry to record the dividend payment would be as follows Date 12152020 Debit Retained Ea... View the full answer