On November 27, the board of directors of Splish Brothers Company declared a $0.80 per share...

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On November 27, the board of directors of Splish Brothers Company declared a $0.80 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Splish Brothers has 26,000 shares of $1 par common stock outstanding at November 27. Journalize the entries needed on the declaration and payment dates. (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 O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Nov. 27 Cash Dividends Dec. 24 Dividends Payable Cash Debit 20,800 26,000 Credit 20,800 26,000 On November 27, the board of directors of Splish Brothers Company declared a $0.80 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Splish Brothers has 26,000 shares of $1 par common stock outstanding at November 27. Journalize the entries needed on the declaration and payment dates. (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 O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Account Titles and Explanation Nov. 27 Cash Dividends Dec. 24 Dividends Payable Cash Debit 20,800 26,000 Credit 20,800 26,000