E Calculator E Print Item Nutritious Pet Food Company's board of directors declares a cash dividend of ș5,100 on June 30. At that time, there are 3,500 shares of $8 par value 5% preferred stock outstanding and 7,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend? If an amount box does not require an entry, leave it blank.

E Calculator E Print Item Nutritious Pet Food Company's board of directors declares a cash dividend of ș5,100 on June 30. At that time, there are 3,500 shares of $8 par value 5% preferred stock outstanding and 7,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend? If an amount box does not require an entry, leave it blank.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 99.2C

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