The dates of importance in connection with a cash dividend of $50,000 on a corporation’s common stock

The dates of importance in connection with a cash dividend of $50,000 on a corporation’s common stock are January 15 and March 15.
Required:

ournalize the entries required on each date. Refer to the Chart of Accounts for exact wording of account titles. If no entry is required, simply skip to the next transaction.

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JOURNAL

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
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	Journalize the entries required on each date. Refer to the Chart of Accounts for exact wording of account titles. If no entry is required, simply skip to the next transaction.
CHART OF ACCOUNTS
General Ledger
ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Supplies 151 Prepaid Insurance 181 Land 191 Buildings 192 Accumulated Depreciation-Building 193 Equipment 194 Accumulated Depreciation-Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Preferred Stock 312 Paid-In Capital in Excess of Par-Preferred Stock 321 Common Stock 322 Paid-In Capital in Excess of Par-Common Stock 323 Paid-In Capital in Excess of Stated Value-Common Stock 331 Treasury Stock 332 Paid-In Capital from Sale of Treasury Stock 336 Stock Dividends Distributable 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends 390 Income Summary