If the record date is March 20, 2018, and the payment date is April 1, 2018. The journal entry required on April 1, 2018, will the following entries: Debit dividends payable $3000; Credit cash $3000.
If the company declared dividend of the amount of $3000, in which the record date is March 20, 2018, while the payment date is April 1, 2018. The appropriate journal entry required on April 1, 2018 is:
Fresh Corp. Journal entry
April 1, 2018
Debit dividends payable $3000
Credit cash $3000
(To record dividend declaration)
Therefore the journal entry required on April 1, 2018, will the following entries: Debit dividends payable $3000; Credit cash $3000,
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