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The board of directors of Wayne Co . declared a cash dividend of $ 1 . 5 0 per share on 4 2 , 0
The board of directors of Wayne Co declared a cash dividend of $ per share on shares of common stock on July The dividend is to be paid on August to stockholders of record on July The effects of the journal entry to record the payment of the dividend on August are to
decrease liabilities and decrease assets.
increase stockholders' equity and decrease assets.
decrease stockholders' equity and decrease liabilities.
increase stockholders' equity and increase liabilities.
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