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The following information and transactions took place during 2015: Mar-25 Declared a $6 per share cash dividend on 30,000 common shares issued and outstanding. Apr-20
The following information and transactions took place during 2015:
Mar-25 Declared a $6 per share cash dividend on 30,000 common shares issued and outstanding.
Apr-20 Paid the cash dividends declared on March 25.
Dec-31 Preparing closing entries. The balance in the income summary is $65,000 credit.
Prepare journal entries for the above transactions.
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