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  3. a company declared a $0.55 per share cash dividend

A company declared a $0.55 per share cash dividend. The company has 480,000 shares authorized,...

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Accounting

A company declared a $0.55 per share cash dividend. The company has 480,000 shares authorized, 456,000 shares issued, and 19,200 shares in treasury stock. The journal entry to record the payment of the dividend declaration is:

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