On June 1,the board of directors declares a cash dividend to be paid on June 30 to shareholders of record on June 15.On which date would the company record a credit to the Dividends Payable account?

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The company would record a credit to the Dividends Payable account on the date the dividend is declared, which is June 1. This is when the company officially commits to paying the dividend.

On June 1,the Board of Directors Declares a Cash Dividend