Problem%2010-1 - 50,000 Cash 50,000 Pay dividends...

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Date Account Debit Credit Aug. 15 Dividends 50,000 Dividends Payable 50,000 Declare dividends Date Account Debit Credit Aug. 31 Retained Earnings 50,000 Dividends 50,000 Close the Dividends account Date Account Debit Credit No Entry Date Account Debit Credit Sept. 20 Dividends Payable
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Unformatted text preview: 50,000 Cash 50,000 Pay dividends Requirement 4 -- Date of Payment Problem 10-1 Solution -- Recording Dividends Requirement 1 -- Date of Declaration Requirement 2 -- Close Dividend Account Requirement 3 -- Date of Record...
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