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On Dec. 29, Wilson Corp. declared and paid dividends of $7,500 to their shareholders. What accounts, if any, should Wilson debit and credit to
On Dec. 29, Wilson Corp. declared and paid dividends of $7,500 to their shareholders. What accounts, if any, should Wilson debit and credit to record this transaction? Dr. Cash Cr. Dividends Declared a. b. Dr. Dividends Declared, Cr. Retained Earnings C. Dr. Dividends Declared, Cr. Cash e. No entry required Dr. Common Shares, Cr. Cash
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Managerial Accounting
Authors: James Jiambalvo
5th edition
1118078764, 978-1118078761
