: The business paid $500 in cash dividends to stockholders. Solutions & Explanations
: Performed services and received $3,000 cash immediately. journal-entries-exercises-with-answers
In accounting, journal entries are the first step in the accounting cycle , recording financial transactions using (left side) and credits (right side). The fundamental rule is that total debits must always equal total credits . Practice Exercises : The business paid $500 in cash dividends to stockholders