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Question 16 (3 points) Darton Company declared and paid dividends of $40,000 for the year. The journal entry to record this transaction is Debit--Cash,
Question 16 (3 points) Darton Company declared and paid dividends of $40,000 for the year. The journal entry to record this transaction is Debit--Cash, 12,000; Credit- -Investment, 12,000 O Debit--Cash, 40,000; Credit- -Investment, 40,000 Debit--Cash, 12,000; Credit- -Dividend Income, 12,000 No entry required
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Core Concepts of Accounting Information Systems
Authors: Mark G. Simkin, Jacob M. Rose, Carolyn S. Norman
12th edition
1118022300, 978-1118022306
