Jay's Limo Services Paid Cash Dividends of $100 $\begin{array}{|l|l|l|}\hline \text { Divdends }&100 \\\hline \text { Cash }&&100\\\hline \end{array}$

question 53

Multiple Choice

Jay's Limo Services paid cash dividends of $100. Which of the following general journal entries will Jay's Limo Services make to record this transaction?

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

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