On July 12, Edwards Company declared a cash dividend of $3.70 per share to be...
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Accounting
On July 12, Edwards Company declared a cash dividend of $3.70 per share to be paid on its common stock. On this date, the company had 52,000 common shares issued and 47,900 common shares outstanding. The dividend will be paid on August 12 to owners of record on July 27.
Required
Prepare the journal entries related to the cash dividend declared and paid.
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