The Board of Bogswell,Inc

question 13

Multiple Choice

The board of Bogswell,Inc.declared a $2 per share cash dividend on common stock.The corporation has 4,000 shares of common stock outstanding.The entry required to declare the dividend is:

• A)debit Cash;credit Common Dividends Payable.
• B)debit Common Dividends Payable;credit Cash.
• C)debit Retained Earnings;credit Dividends Payable.
• D)debit Cash Dividends;credit Common Dividends Payable.

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