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Prepare the Journal Entry for the Following Transaction

Question 122

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Prepare the journal entry for the following transaction:
The Board of Directors of XYZ Corporation declared dividends of $6,000.These dividends were paid to the stockholders on the same date.
Prepare the journal entry for the following transaction: The Board of Directors of XYZ Corporation declared dividends of $6,000.These dividends were paid to the stockholders on the same date.

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