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On the date of record for a dividend, the company: debits Dividends and credits Dividends Payable for the amount of the dividend. debits Dividend Expense

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On the date of record for a dividend, the company: debits Dividends and credits Dividends Payable for the amount of the dividend. debits Dividend Expense and credits Cash for the dividend amount. debits Dividends Payable and credits Cash for the dividend amount. establishes who will receive the dividend payment

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