On July 31,Crispy Corp declared a dividend of $0.55 per common share outstanding to the shareholders of record on August 15.The dividend will be paid on August 25.Crispy Corp has unlimited shares authorized and 100,000 shares issued and outstanding.Prepare the journal entry to record the declaration of the dividend.

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The Answer of On July 31,Crispy Corp declared a dividend of $0.55 per common share outstanding to the shareholders of record on August 15.The dividend will be paid on August 25.Crispy Corp has unlimited shares authorized and 100,000 shares issued and outstanding.Prepare the journal entry to record the declaration of the dividend.

On July 31,Crispy Corp Declared a Dividend of $0