A company declared a $0.90 per share cash dividend. The company has 220,000 shares authorized,...
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Accounting
| A company declared a $0.90 per share cash dividend. The company has 220,000 shares authorized, 69,000 shares issued, and 66,000 shares of common stock outstanding. What is the journal entry to record the dividend declaration? |
a. Debit Dividends Payable and credit Cash for $62,100
b. Debit Dividends Payable and credit Cash for $198,000
c. Debit Dividends and credit Dividends Payable for $62,100
d. Debit Dividends and credit Dividends Payable for $59,400
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