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Business, 10.12.2019 22:31 kaylailkanic1487

Arecent annual report for nordstrom inc. disclosed that the company declared and paid dividends on common stock in the amount of $1.20 per share. during the year, nordstrom had 1,000,000,000 authorized shares of common stock and 191,200,000 issued shares. there is no treasury stock. required: assume nordstrom declared the entire dividend ($1.20 per share) on february 20 and subsequently paid the dividend on march 1. prepare the journal entries to record the declaration and payment of dividends.

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