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The Norman Corporation's stockholders' equity accounts have the following balances as of January 1, 2016: Norman engaged in the following dividend transactions during 2016: Required:

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The Norman Corporation's stockholders' equity accounts have the following balances as of January 1, 2016: Norman engaged in the following dividend transactions during 2016: Required: Prepare the entries to record the dividend transactions for 2016. (Do not record the cash dividend payment in 2017.)

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