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Apple Inc. declared a cash dividend of $7 per share on its 20,000 outstanding shares of common stock. Calculate the total amount of dividends to

Apple Inc. declared a cash dividend of $7 per share on its 20,000 outstanding shares of common stock. Calculate the total amount of dividends to be paid and provide the journal entry to record the declaration of dividends.

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  • Calculate the total amount of dividends to be paid.
  • Provide the journal entry to record the declaration of dividends.

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