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On December 31, as a short-term investment, Arlington and Fry purchased 500 shares for $50,000. The shares pay a $0.40 cash dividend on February 28.
On December 31, as a short-term investment, Arlington and Fry purchased 500 shares for $50,000. The shares pay a $0.40 cash dividend on February 28. The entry to record the dividend would be:
Dividend Expense 200
Cash 200
Cash 50,000
Investment 50,000
No entry
Cash 200
Dividend Income 200
Cash 200
Investment 200
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Auditing Corporate Surveillance Systems Research Methods For Greater Transparency
Authors: Isabel Wagner
1st Edition
1108837662, 978-1108837668
