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26. On July 1, Telstar Corporation declared a $1.00 per share cash d.pdf

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26. On July 1, Telstar Corporation declared a $1.00 per share cash dividend on its common stock (15,000 shares) for stockholders on record as of July 15. Telstar paid the dividend on July 31. Journalize the entries declaring the cash dividend and paying the dividend. Solution 1-Jul Cash dividends 15000 Cash dividends payable 15000 31-Jul Cash dividends payable 15000 Cash 15000.

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26. On July 1, Telstar Corporation declared a $1.00 per share cash dividend on its common stock (15,000 shares) for stockholders on record as of July 15. Telstar paid the dividend on July 31. Journalize the entries declaring the cash dividend and paying the dividend. Solution 1-Jul Cash dividends 15000 Cash dividends payable 15000 31-Jul Cash dividends payable 15000 Cash 15000

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