Determine what proportion the balance in each of the three restricted accounts (Mink, Education and AGM Speakers) is of the total in the restricted funds. Using those percentages, allocate all dividend income received in the fiscal year to each of those accounts by making a general journal entry. Debit total amount of dividend income to the Dividend Income Account (General Fund) and credit the amounts to the three restricted fund accounts.
Revision history: 6/2009 du, 10/2017 llc, 06/2018 llc