Essay
An electric utility issued 3,000 shares of common stock, all of the same class; 2,800 shares are outstanding and 200 are held in the treasury. On August 15, the board of directors declared a cash dividend of $2.10 per share, payable on September 15, to stockholders of record on August 31.
Prepare the required journal entries for August 15, August 31, and September 15.
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August 15:
Cash Dividends Declared:
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Correct Answer:
Answered by ExamLex AI
Cash Dividends Declared:
Deb...
View Answer
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