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On November 12, King Tut Corporation declared a dividend of $0.50 per share on 18,000 shares of common stock, payable December 12. Prepare the journal

On November 12, King Tut Corporation declared a dividend of $0.50 per share on 18,000 shares of common stock, payable December 12. Prepare the journal entries for the date of declaration and the date of payment.

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