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Prepare journal entries to record the following transactions for Emerson Corporation. Note: If no entry...

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Accounting

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

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

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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