Answer:
August 1st and September 9th have entries but August 15th will not have any journal records.
Explanation:
The question is to prepare the journal entries for the three dates
August 1: Declared Cash Dividend of $1.00 per share on its 2 million outstanding shares.
Date Particulars Debit Credit
August 1 Retained Earnings A/c $2,000,000
Dividend Payable A/c $2,000,000
being the record of dividend declared on 2 million outstanding shares.
August 15: All stakeholders on record by August 15 are entitled to dividend.
Date Particulars Debit Credit
August 15 No Entries (Just a record of stakeholders on this date)
September 9: Dividend Paid
Date Particulars Debit Credit
August 1 Dividend Payable A/c $2,000,000
Cash Account $2,000,000
Being the record of dividend paid of $1 for 2000000 outstanding shares.
