Question: Please answer correct with all working and explanation clealrly Current Attempt In Progress Paudel Limited has been In the retail business for many years and

Please answer correct with all working and explanation clealrly

Current Attempt In Progress Paudel Limited has been In the retail business for many years and has reached its goal in securing a strong financial position. The board of directors decided that it is time to adopt a policy of paying quarterly dividends. No dividends had been declared since incorporation. A $0.60 per share dividend was declared on Paudel's 82.000 outstanding common shares. Does this decision require a change in accounting policy? No List of Accounts What journal entry, if any. should Paudel record at the date of declaration of the dividend? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry Is required, select "No Entry" for the account titles and enter 0 for the amounts;) Credit Account Titles and Explanation Debit To record dividends declared. )

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