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Question 24 3.33 pts Aspen Corporation has issued 10,000 shares of $5 par value common stock, 9.500 shares are outstanding. On November 15, 2019. Aspen's
Question 24 3.33 pts Aspen Corporation has issued 10,000 shares of $5 par value common stock, 9.500 shares are outstanding. On November 15, 2019. Aspen's board of directors declares a cash dividend of $2.00 per share payable on December 15, 2019. to stockholders of record on December 1, 2019. The journal entry necessary on December 15 would include: Adebit to Dividends Payable for $20,000, and a credit to Cash for $20.000 Adebit to Retained Earnings for $19.000, and a credit to Dividends Payable for $19.000. A debit to Dividends Payable for $19.000, and a credit to Cash for $19.000 Adebit to Retained Earnings for $19.000, and a credit to Cash for $19.000
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