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Record journal entries for October 1, October 15, and October 20 E11-21 (Algo) Recording...

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Record journal entries for October 1, October 15, and October 20

E11-21 (Algo) Recording Dividends L011-3, 11-4 Wilmington, Incorporated brands touch the lives of people around the world. Assume that in the current year the company had 10 billion shares of common stock authorized, 4 billion shares issued, and 3 billion shares outstanding. Par value is $1 per share. Wilmington, Incorporated has been paying a dividend for over 100 years. Required: Assume that Wilmington, Incorporated declared a dividend of $2.58 per share on October 1 to stockholders of record on October 15 . Wilmington, Incorporated paid the dividend on October 20. Prepare journal entries as appropriate for each date. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in billions (i.e., 1,000,000,000 not 1.0)

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