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XYX Corporation has 4,000,000 authorized and 500,000 shares of common stock issued. The par value of the stock is $1, and the market value of

XYX Corporation has 4,000,000 authorized and 500,000 shares of common stock issued. The par value of the stock is $1, and the market value of the stock is $40 dollars. Please make the following journal entries for a $2 dollar per share dividend that was declared.

March 1st Dividend was declared

March 15th Date of Record

March 30th Date of payment

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