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The following data were taken from the balance sheet accounts of Masefield Corp. on December 31, 2020: Instructions A dividend is declared Jan 5,2020 ,

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The following data were taken from the balance sheet accounts of Masefield Corp. on December 31, 2020: Instructions A dividend is declared Jan 5,2020 , and paid Jan 25,2020 , in bonds held as an investment. The bonds have a book value of $100,000 and a fair value of $135,000. Prepare the journal entries to record the dividend declaration and distribution

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