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On March 1, the board of directors declared a cash dividend of $0.70 per common share to shareholders of record on March 10, payable March
On March 1, the board of directors declared a cash dividend of $0.70 per common share to shareholders of record on March 10, payable March 31. There were 134,000 shares issued and outstanding on March 1 and no additional shares had been issued during the month. Record the entries for March 1, 10, and 31. The cash dividends account is used.
View transaction list 1 Record the declaration of cash dividend on common shares of $0.70 per share. er share. 2 Record the declaration of cash dividend of $0.70 per share to share holders on record. 3 Record the payment of dividends declared on March 1. Credit Note : = journal entry has been entered Record entry Clear entry View general journalStep by Step Solution
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