The Seabee Corporation has 10,000 shares of common stock outstanding. It declares a ($ 1) per share

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The Seabee Corporation has 10,000 shares of common stock outstanding. It declares a $\$ 1$ per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend.

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