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When dividend is declared: Dr. Dividend $15,575 Cr. Dividend Payable $15,575 When dividend is recorded: No entry When dividend is paid: Dr. Dividend Payable $15,575

When dividend is declared:

Dr. Dividend $15,575

Cr. Dividend Payable $15,575

When dividend is recorded:

No entry

When dividend is paid:

Dr. Dividend Payable $15,575

Cr. Cash $15,575

issue with answer if that, there is only 15000 in cash

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