Okay the question is declared a cash dividend of $3500 Dividend will not be paid until next month.
Which journal do I post that in special journal or a general journal?
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Okay the question is declared a cash dividend of $3500 Dividend will not be paid until next month.
Which journal do I post that in special journal or a general journal?
Most likely the general journal. There aren't any rules about what the special journals have to be -- companies can actually make these any way they like. However, based on what is "typically" done in textbooks, there would be no special journal that would fit declaring a dividend.
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