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Company reports the following information for 2020. 12/31/2019 Dividend Payable Account Balance = $10 12/31/2020 Dividend Payable Account Balance = $0 12/31/2019 Retained Earnings Account
Company reports the following information for 2020.
- 12/31/2019 Dividend Payable Account Balance = $10
- 12/31/2020 Dividend Payable Account Balance = $0
- 12/31/2019 Retained Earnings Account Balance = $175
- 12/31/2020 Retained Earnings Account Balance = $225
- Net Income was $85 for 2020.
- All other dividend related transactions were cash transactions.
Provide the cash dividend payments for 2020.
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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
6th edition
978-0077328894, 71313974, 9780077395810, 77328892, 9780071313971, 77395816, 978-0077400163
