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  1. business
  2. accounting
  3. west company declared a $0.50 per share cash divid

West Company declared a $0.50 per share cash dividend. The company has 190,000 shares issued,...

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Accounting

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West Company declared a $0.50 per share cash dividend. The company has 190,000 shares issued, and 10,000 shares in treasury stock. The journal entry to record the payment of the dividend is: Multiple Choice Debit Common Dividends Payable $90,000; credit Cash $90,000. Debit Retained Earnings $95,000; credit Common Dividends Payable $95,000. Debit Retained Earnings $90,000; credit Common Dividends Payable $90,000. Debit Retained Earnings $95,000; credit Common Dividends Payable $95,000. Debit Retained Earnings $90,000; credit Common Dividends Payable $90,000. Debit Retained Earnings $5,000; credit Common Dividends Payable $5,000. Debit Common Dividends Payable $95,000; credit Cash $95,000

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