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    Rachel18's Avatar
    Rachel18 Posts: 1, Reputation: 1
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    #1

    Oct 31, 2016, 04:43 PM
    Declared and paid cash
    Hi! What is the title of accounts for declared and paid a $668 cash dividend? I got it wrong on assignment because I wrote that title of accounts is dividend. Everything else I got correct. I wrote that title of accounts is cash- credit and I want to know what account title is for debit. Is it Retained earnings?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Nov 7, 2016, 10:42 PM
    I would expect a dividend due account would be created when the dividend is declared, transferring the amount from retained earnings and this account would be debited on payment
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