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FINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Prepare journal entries to record the following transactions for Emerson Corporation.

July 15	Declared a cash dividend payable to common stockholders of $160,000.
August 15	Date of record is August 15 for the cash dividend declared on July 15.
August 31	Paid the dividend declared on July 15.

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