on-march-14th-a-company-declares-a-dividend-of-500000-what-is-the-journal-entry-

Question

On March 14th, a company declares a dividend of $500,000. What is the journal entry recorded on this date?

Accepted Answer

Debit Dividends $$500,000; Credit Dividends Payable 500$$,000

Answer

Debit Dividends Payable $$500,000; Credit Dividends 500$$,000

Answer

Debit Cash $$500,000; Credit Dividends Payable 500$$,000

Answer

Debit Dividends $$500,000; Credit Cash 500$$,000

On March 14th, a company declares a dividend of \$500,000. What is the journal entry recorded on this date?