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BaLLatris [955]
2 years ago
14

Finley Company

Business
1 answer:
aleksley [76]2 years ago
3 0

Answer:

d. debit Retained Earnings, $3,000; credit Dividends, $3,000.

Explanation:

The journal entry to close the dividend account should be

Retained earnings Dr $3,000

        To Dividend $3,000

(being the closing of the dividend account is recorded)

here the retained earning is debited as it decreased the stockholder equity and dividend is credited as it is closed

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