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The board of directors of Capstone Inc. declared a $0.50 per share cash dividend on...

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Accounting

The board of directors of Capstone Inc. declared a $0.50 per share cash dividend on its $1 par common stock. On the date of declaration, there were 50,000 shares authorized, 14,000 shares issued, and 4,800 shares held as treasury stock. What is the entry for the dividend declaration?

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