On november 1, 2019, juno, inc. declared a dividend of $3.00 per share on common stock. juno, inc. has 10,000 shares of common stock outstanding and 20,000 shares of preferred stock. the date of record is november 15, and the payment date is november 30, 2019. regarding the date of record, which of the following statements is true?

When a dividend payment is recorded (November 15, 2019), no journal entry should be made.

Explanation:

When a dividend is declared,  liability must be recorded for the total amount of the dividends and retained earnings must decrease. The journal entry should be:

November 1, 2019 .- dividend declaration ($3 per common share)

When the dividends are distributed, the journal entry should be as follows:

November 30, 2019 .- dividend distribution

answer; the above statement/question is ( true);