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The board of directors declares a dividend of $100,000 at their meeting on March 15. It provides for dividend payments for shareholders on record as

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The board of directors declares a dividend of $100,000 at their meeting on March 15. It provides for dividend payments for shareholders on record as of May 1. On May 5, the company pays the dividends. What entries, if any, are made based on the March 15th meeting? Cash [Choose ] > Dividend payable [Choose ] Retained Earnings [Choose ]

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