Brown Company paid $40 in cash dividends.

Business

1 answer:

Mice21 [21]3 years ago

7 0

Answer:

Debited, left and credited, right

Explanation:

The journal entry is shown below:

Dividend A/c Dr $40

To Cash A/c $40

(Being dividend is paid in cash)

As we see that cash is paid that means cash would be credited and it is shown on the right hand side of the T account whereas the dividend is debited that is shown in the left hand side of the T account

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