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Exercise 15-12 Pronghorn Corporation has 10.90 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 72 cents

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Exercise 15-12 Pronghorn Corporation has 10.90 million shares of common stock issued and outstanding. On June 1, the board of directors voted an 72 cents per share cash dividend to stockholders of record as of June 14, payable June 30. Prepare the journal entries for each of the dates above assuming the dividend represents a distribution of earnings. (Credit account titles a automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the accou titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit

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