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A company pays the stockholders a dividend of $700 during the current accounting period. What is the impact on the income statement from this entry?

image text in transcribedA company pays the stockholders a dividend of $700 during the current accounting period. What is the impact on the income statement from this entry?

Question 7 4 pts A company pays the stockholders a dividend of $700 during the current accounting period. What is the impact on the income statement from this entry? Income increases by $700 None of the Answers is Correct Cash increases by $700 Cash decreases by $700 O Income decreases by $700

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