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MTM Company declared a $125,000 cash dividend on December 1, 2007 to be paid on January 1, 2008. The entry on December 1, 2007 for

MTM Company declared a $125,000 cash dividend on December 1, 2007 to be paid on January 1, 2008. The entry on December 1, 2007 for this event would include a debit to:

a.retained earnings.

b.dividend expense.

c.common stock.

d.additional paid in capital.

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