Question

on march 17, complete computer service paid $1,000 cash for dividends.

the journal entry to record this transaction would be:

answer

date accounts debit credit
dividends 1,000
retained earnings 1,000

date accounts debit credit
dividends 1,000
cash 1,000

date accounts debit credit
cash 1,000
dividends 1,000

date accounts debit credit
retained earnings 1,000
cash 1,000

i dont know yet

Explanation:

Analyze the transaction components

$$
LATEXBLOCK0
$$

Match with the given options

$$
LATEXBLOCK1
$$

Answer:

• (A) Debit Dividends 1,000; Credit Retained Earnings 1,000
• (B) Debit Dividends 1,000; Credit Cash 1,000 (Correct answer)
• (C) Debit Cash 1,000; Credit Dividends 1,000
• (D) Debit Retained Earnings 1,000; Credit Cash 1,000