Multiple Choice
LMN Ltd declared an interim dividend on 12 February 2018 of 10 cents per share (500 000 issued shares) and paid it on 3 March 2018. The journal entry on 12 February 2018 would include:
A) DR Interim dividend declared, $50 000.
B) CR Cash, $50 000.
C) CR Retained profits, $50 000.
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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