waiver of dividend

[know it all]

In 2015 company declared dividend . company has 2 partners A AND B. A took cash ,B waived his right to receive his dividend and told to settle company debts by utilizing that money. Can waiver be treated as -other income for the company.
Can we pass BELOW ENTRIES

1. FOR DECLARING DIVIDEND
RETAINED EARNINGS-dr
TO A
TO B
-------------------

1. A-dr
TO BANK
2. B-dr
TO Other income ( for waiver of dividend)

 

[kirby]

No.
When dividend was declared

DR Retained Earnings
CR Dividend Payable

so if the right is waived
DR Dividend Payable
CR Retained Earnings

No income event. No income was earned.