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On July 15,2018, the board of Directors of khulsang corporation declared a P3 per ordinary share cash dividend to shareholder's of record on July 31,,2018

On July 15,2018, the board of Directors of khulsang corporation declared a P3 per ordinary share cash dividend to shareholder's of record on July 31,,2018 payable on august 15, 2018.

Blue Corporation has 20,000 ordinary shares issued and outstanding.

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Prepare journal entries on the date of declaration and on the date of payment

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