Quinn Corporation has 4,500 shares of common stock issued and outstanding. The board of directors declared a $3.25 per share cash dividend on January 25, payable on March 25, to stockholders of record on February 25. Prepare the appropriate journal entries for the declaration and payment of the dividend.

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The Answer of Quinn Corporation has 4,500 shares of common stock issued and outstanding. The board of directors declared a $3.25 per share cash dividend on January 25, payable on March 25, to stockholders of record on February 25. Prepare the appropriate journal entries for the declaration and payment of the dividend.

Quinn Corporation Has 4,500 Shares of Common Stock Issued and Outstanding