5. KMVX corporation declared two types of Dividends to its shareholders. On July 1, 2022...
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5. KMVX corporation declared two types of Dividends to its shareholders. On July 1, 2022 it declared cash dividends of 50 Cents to be paid to each shareholder of its 2,000,000 shareholders. a. Present the general journal entries KMVX will make on the date of Dividend declaration. b. On October 31, 2022, the Corporation pald the dividends to its shareholders. Prypare the necessary general journal entries to effect the payments
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