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IOn January 1, 2013, Warhol Company issued 2 comma 0002,000 shares of 10%, $ 120$120 par value, cumulative preferred stock for $ 100 comma 000$100,000.
IOn January 1, 2013, Warhol Company issued
2 comma 0002,000
shares of 10%,
$ 120$120
par value, cumulative preferred stock for
$ 100 comma 000$100,000.
On December 30, 2015, the Board declared dividends of
$ 20$20
per share on the preferred stock. What journal entry is necessary for the declaration of dividends?
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