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question 4 accounting for cash dividends aa aa on april 5 the board of directors for 4277017

Question

4. Accounting for cash dividends Aa Aa On April 5, the board of directors for Jamison Inc. authorized a $2.45-per-share dividend for common stockholders to be paid on April 28. The date of record was set for April 15. An analysis of Jamison's common stock yields the following information regarding the number of common shares of stock it has: Number of Common Shares Shares authorized 90,000 Shares issued 70,000 31,000 Shares outstanding Complete the journal entries Jamison Inc. needs to record to account for its dividends. Use Smart Entry when selection lists are not available. JOURNAL Post Date Ref. Debit Description Credit Not sure about the account title? Click here to view the chart of accounts. On April 14, Eric Holly, a private investor, bought 700 shares of Jamison Inc.'s common stock. On April 28, will Eric receive the declared $2.45-per-share dividend for each of his shares? No O O Yes

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