On July 23,Amigo Company declared a cash dividend totaling $80,000.Stockholders were notified that $15,000 of this dividend represented a liquidating dividend.At the time,the balance in Paid-In Capital in Excess of Par was $113,000.
Make the journal entries to record (1)the declaration and (2)the payment of this dividend.

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The Answer of On July 23,Amigo Company declared a cash dividend totaling $80,000.Stockholders were notified that $15,000 of this dividend represented a liquidating dividend.At the time,the balance in Paid-In Capital in Excess of Par was $113,000.
Make the journal entries to record (1)the declaration and (2)the payment of this dividend.

On July 23,Amigo Company Declared a Cash Dividend Totaling $80,000