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on july 23, Amigo company declared a cash dividend totaling $80,000. Stockholders were notified that $15,000 of this dividend represented a liquidating dividend. At the
on july 23, Amigo company declared a cash dividend totaling $80,000. Stockholders were notified that $15,000 of this dividend represented a liquidating dividend. At the time, the balance in Paid-In capital in excess of Par was $113,000. Make Journal entries to record (1) the declaration and (2) the payment of this dividend.
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