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5. A company declared a $0.30 per share cash dividend. The company has 180,000 shares authorized, 171,000 shares issued, and 7,200 shares in treasury stock.

5. A company declared a $0.30 per share cash dividend. The company has 180,000 shares authorized, 171,000 shares issued, and 7,200 shares in treasury stock. The journal entry to record the payment of the dividend declaration is:

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