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Define the Following Dividend Dates for a Cash Dividend

Question 145

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Define the following dividend dates for a cash dividend.For each date,state whether a journal entry should be recorded.In addition,if a journal entry should be record,state the effect on assets,liabilities or equity.
 Term  Definition  Should an entry be  recorded?  If so, what is the effect  on the accounting  equation?  Declaration date  Date of record  Payment date \begin{array} { | l | l | l | l | } \hline \text { Term } & \text { Definition } & \begin{array} { l } \text { Should an entry be } \\\text { recorded? }\end{array} & \begin{array} { l } \text { If so, what is the effect } \\\text { on the accounting } \\\text { equation? }\end{array} \\\hline \text { Declaration date } & & & \\\hline \text { Date of record } & & & \\\hline \text { Payment date } & & & \\\hline\end{array}

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