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A company declared a $0.75 per share cash dividend. The company has 200,000 shares authorized, 65,000 shares issued, and 62,000 shares of common stock outstanding.

A company declared a $0.75 per share cash dividend. The company has 200,000 shares authorized, 65,000 shares issued, and 62,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration?

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