Indicate on the Blanks Below the Net Effect (I =

Short Answer

Indicate on the blanks below the net effect (I = increase, D = decrease, NE = no effect) of each of the following entries on working capital.
_____ 1. To record the declaration of a cash dividend
_____ 2. To record the payment of a previously declared and recorded cash dividend
_____ 3. To close the Dividends account at the end of the accounting period