Question

On March 1st, a company declares a $.10 cash dividend on its 60,000 shares outstanding payable on March 31st to stockholders on record as of March 15th. What entry should be made on the record date

Answer 1

No journal entry is required

Step-by-step explanation:

Given that

On March 1, the company announces a cash dividend at a $0.10 for the 60,000 shares

Its date for an outstanding payable is on March 31

And, the record date is on March 15

So for the record date, no journal entry is required and the same is to be considered

Therefore in the given case, no entry is needed