Question

What is journal entry of devidend collected by bank

Answer 1

If the company declares a cash dividend but does not immediately pay it, you debit the Dividends account and credit Dividends Payable. When the dividend is later paid out, you debit Dividends Payable and credit the Cash account.

Answer 2

Answer:

To Dividend Received. Bank Account Debit: Rule: Debit what comes in, credit what goes out. Since Money is coming in bank account, its Debit. Dividend Received: Rule: Debit all expenses, Credit all income.