On the date of record for a dividend,the company:
A)debits Dividends and credits Dividends Payable for the amount of the dividend.
B)debits Dividend Expense and credits Cash for the dividend amount.
C)debits Dividends Payable and credits Cash for the dividend amount.
D)establishes who will receive the dividend payment.

Question

Quizplus · Accepted Answer

The record date (or date of record)is the cut-off date for determining the specific stockholders to be paid the dividend.No journal entry is recorded on this date.

On the Date of Record for a Dividend,the Company