Question: On January 1 st ABC Company declared declared a SR0.50 per share cash dividend on 8.000 shares of common stock outstanding. The dividend will be

On January 1st ABC Company declared declared a SR0.50 per share cash dividend on 8.000 shares of common stock outstanding. The dividend will be paid on March 1st to stockholders of record on February 1st.

Write the journal entry for the following dates

  1. Date of declaration
  2. Date of record
  3. Date of payment

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