Answered

Westonci.ca makes finding answers easy, with a community of experts ready to provide you with the information you seek. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

On Mar 3, Lyons Company paid dividends of $1,000. Use your knowledge of what a correct journal entry should look like to identify what would be include

Sagot :

Zviko

Answer:

Debit : Dividend $1,000

Credit : Cash $1,000

Explanation:

The Journal entry to record dividend payment include a Debit to Dividend Account and a Credit to Cash Account to depict the outflow of cash.

We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. We're here to help at Westonci.ca. Keep visiting for the best answers to your questions.