July 15 Declared a cash dividend payable to common stockholders of $163,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the dividend declared on July 15.

July 15 Declared a cash dividend payable to common stockholders of $163,000.

Aug. 15 Date of record is August 15 for the cash dividend declared on July 15.
Aug. 31 Paid the dividend declared on July 15.

Required:
Prepare journal entries to record the above transactions for Corporation.

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July 15 Declared a cash dividend payable to common stockholders of $163,000. Aug. 15 Date of record is August 15 for the cash dividend declared on July 15. Aug. 31 Paid the divi…

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