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Record the declaration of a cash dividend on its common stock of $0.35 per share and a $21,000 (5% of par value) cash dividend on

Record the declaration of a cash dividend on its common stock of $0.35 per share and a $21,000 (5% of par value) cash dividend on its preferred stock payable to all stockholders. The dividend is payable on December 30. (Hint: Dividends are not paid on treasury stock.) Step by step how to calculate dividend and dividend payable

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