The company owns 1,000 shares of Stock A and 3,000 shares of Stock B. The...
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Accounting
The company owns 1,000 shares of Stock A and 3,000 shares of Stock B. The company received dividends of $1.75 per share from Stock A and $0.97 per share from Stock B. The company classifies Stock A as a trading security and Stock B as an available-for-sale security. Make the journal entry necessary to record the receipt of the cash dividends.
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