Answer:
Explanation:
The journal entries are shown below:
On July 9
Cash dividend A/c Dr $91,400
To Dividend payable $91,400
(Being cash dividend declared)
On August 31
No journal entry is required as no transaction took place
On October 1
Cash dividend payable A/c Dr $91,400
To Cash A/c $91,400
(Being payment of dividend is recorded)
