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    pinoya20's Avatar
    pinoya20 Posts: 1, Reputation: 1
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    #1

    Jan 27, 2010, 11:30 PM
    Prepare a journal entry on January 19 for the payment of $5,500 of dividends.
    Prepare a journal entry on January 19 for the payment of $5,500 of dividends.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Jan 28, 2010, 12:32 AM

    As for the credit, what do you always credit when you make a payment?

    As for the debit, depends on the situation. If this payment is for a dividend declared in December, it would be in a Dividend Payable account and comes out just like paying any other payable.
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