What Journal Entries should I use for Dividends:
1 - Declaring Dividends
2 - Distributing Dividends
Thanks!
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What Journal Entries should I use for Dividends:
1 - Declaring Dividends
2 - Distributing Dividends
Thanks!
I think
1. Dividends Declared: DR
Other (Dividends) Payable: CR
2. Dividends: DR
Cash: CR
1. Debit Dividends for the amount
Credit Dividends payable for the amount
2. Debit Dividends payable for the amount
Credit Cash for the amount
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