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Business, 16.10.2020 14:01 meeeekmill

On February 5, 2018, Cinch Rental Corporation's board of directors declared a dividend of $0.35, to be paid on March 18, 2018, to the shareholders of record as of the close of business on March 9, 2018. Cinch has 6,200,000 shares of $0.01 par-value common stock authorized with 900,000 shares issued and outstanding. The company has no preferred stock. Required:
Record the declaration of the explanations from any journal entries) dividend and the payment of the dividend.

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