Prepare a journal entry on June 30 for the payment of dividends of $11,000. If an amount box does not require an entry, leave it blank.
June 30



Answer :

Sure, here is how you would prepare a journal entry to record the payment of dividends:

Date: June 30

Account Titles and Explanation | Debit | Credit
--- | --- | ---
Dividends | 11,000 |
      Cash |   | 11,000

Explanation: To record the payment of dividends to shareholders.

This journal entry shows that the Dividends account is debited for [tex]$11,000, which reduces retained earnings, and the Cash account is credited for $[/tex]11,000, reflecting the outflow of cash.