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Taylor Company is authorized to issue 5,000 shares of common stock and has 2,000 shares outstanding. On July 1, the company declared a $0.20 per

Taylor Company is authorized to issue 5,000 shares of common stock and has 2,000 shares outstanding. On July 1, the company declared a $0.20 per share cash dividend. The July 1 journal entry to record the dividend declaration is as follows...

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