Autumnâ Services, Inc. acquired 124 comma 000 shares of Springâ Metals, Inc. on Januaryâ 1, 2018. Spring declares a cash dividend of $ 0.75 per share on Februaryâ 15, 2019 and pays the cash dividend on Marchâ 2, 2019. With the currentâ investment, Autumnâ Services, Inc. holds 12â% ofâ Spring's voting stock. Prepare journal entry for the day when the dividend payment is madeâ (March 2,â 2019).
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