Answer
Three days associated with Cash dividend are:
a) May. 01 - Declaration date
b) May.15 - Record Date
c) May.31 - Payment Date
Work Step by Step
a) The date when Board of directors formally announces the cash dividend. The entry will be made as Cash Dividends Dividends Payable
b) At this date, the company determines the ownership of the outstanding shares for dividend purpose. No Entry Made.
c) The Company makes the payment of dividend to share holders. The entry will be made as underDividends Payable Cash
