When a Cash Dividend Is Declared, Three Different Dates Usually

When a cash dividend is declared, three different dates usually are involved. These three dates are described below. Assume a $5,000 cash dividend. Part A: Name the dates in the space provided: $$\begin{array} { | l | l | l | } \hline & \text { Description } & \text { Name of the Date } \\\hline \text { A } & \begin{array} { l } \text { Date on which the Board of Directors votes on the } \\\text { dividend }\end{array} & \\\hline \text { B } & \begin{array} { l } \text { Date on which the names are taken from the shareholder } \\\text { records }\end{array} & \\\hline \text { C } & \text { Date on which the dividend cheques are mailed } & \\\hline\end{array}$$ Part B: Prepare the journal entry for each date: $$\begin{array} { | l | l | l | } \hline & \text { Description } & \text { Journal Entry } \\\hline \text { A } & \begin{array} { l } \text { Date on which the Board of } \\\text { Directors votes on the dividend }\end{array} & \\\hline \text { B } & \begin{array} { l } \text { Date on which the names are } \\\text { taken from the shareholder } \\\text { records }\end{array} & \\\hline \text { C } & \begin{array} { l } \text { Date on which the dividend } \\\text { cheques are mailed }\end{array} & \\\hline\end{array}$$