There is no journal entry for cash dividends on the date of record.

Name: There is no journal entry for cash dividends on the date of record.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The date of record is the date on which the company determines shareholders who are entitled to receive the cash dividends. It is not a date on which a journal entry is made, rather it is used to determine the dividend distribution. Therefore, there is no journal entry for cash dividends on the date of record.

There Is No Journal Entry for Cash Dividends on the Date