Question: The declaration, record, and payment dates in connection with a cash dividend of $135,000 on Smith's corporations common January 1, March 1, and April 1.

The declaration, record, and payment dates in connection with a cash dividend of $135,000 on Smith's corporations common January 1, March 1, and April 1. Which answer reflects the correct journal entry on March 1: A January 1 Cash Dividends Payable 135,000 (debit) 135,000 Cash (credit) 135,000 B. No entry is required. January 1 Cash Dividends 135.000 (debi 135.000 Cash Dividends Payable (credit) 135,000

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