JSmith,the Sole Stockholder,received a $100 Dividend from Jay's Limo Services $$\begin{array} { | l | r | r | } \hline \text { Dividends } & 100 & \\\hline \text { Cash } & & 100 \\\hline\end{array}$$

question 28

Multiple Choice

J.Smith,the sole stockholder,received a $100 dividend from Jay's Limo Services.Which of the following general journal entries will Jay's Limo Services make to record this transaction?

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Dividends } & 100 & \\
• \hline \text { Cash } & & 100 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 100 & \\
• \hline \text { Dividends } & & 100 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | l | r | r | }
• \hline \text { Common Stock } & 100 & \\
• \hline \text { Dividends } & & 100 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Dividends } & 100 & \\
• \hline \text { Common Stock } & & 100 \\
• \hline
• \end{array}\]
• E) \[\begin{array} { | l | r | r | }
• \hline \text { Cash } & 100 & \\
• \hline \text { Common Stock } & & 100 \\
• \hline
• \end{array}\]

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