On the date of record for a dividend,the company:
A)debits Dividends Declared and credits Dividends Payable for the amount of the dividend.
B)debits Dividend Expense and credits Cash for the dividend amount.
C)debits Dividends Payable and credits Cash for the dividend amount.
D)establishes who will receive the dividend payment.

Question

Quizplus · Accepted Answer

On the date of record, the company determines which shareholders are eligible to receive the dividend, but no accounting entries are made.

On the Date of Record for a Dividend,the Company