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Bogscraft Company has outstanding 6 0 , 0 0 0 shares of $ 1 0 par value common stock and 2 5 , 0 0

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Bogscraft Company has outstanding 60,000 shares of $10 par value common stock and 25,000 shares of $20 par value preferred stock (8 percent). On February 1, the board of directors voted in favor of an 8 percent cash dividend on the preferred stock. The cash dividends were paid on March 15. The company closed its books at its fiscal year-end, June 30.
Required:
Prepare journal entries to record the events on (a) February 1,(b) March 15, and (c) June 30.(If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Answer is not complete.
\table[[No,Date,,,Debit,Credit],[1,February 01,Dividends Payable,x,,40,000
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