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Rachel18
Oct 31, 2016, 04:43 PM
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
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