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Prepare the journal entries to record the following transactions for Garcia Corporation. If no journal entry is required, please state so in your answer. A)

Prepare the journal entries to record the following transactions for Garcia Corporation. If no journal entry is required, please state so in your answer.

  • A) July 15, declared a cash dividend of $10 per share with 15,000 common shares outstanding with a date of record on August 15 and payable on August 31.
  • B) August 15, date of record

C) August 31, Paid the dividend

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