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Problem No. 5 The company holds 15,000 shares in treasury costing P7.00 each with market value of P12 per share. The BOD declared such treasury

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Problem No. 5 The company holds 15,000 shares in treasury costing P7.00 each with market value of P12 per share. The BOD declared such treasury shares as dividend on February 1, 2020 to be issued on May 1, 2020. Prepare the journal entries to record the foregoing transactions. Notes

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