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15 December, 12:11

The declaration, record, and payment dates in connection with a cash dividend of $375,000 on a corporation's common stock are October 1, November 7, and December 15. Journalize the entries required on each date. If no entry is required, choose "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.

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  1. 15 December, 12:57
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    Answer and Explanation:

    The Journal entry is shown below:-

    October 1

    Cash Dividends Dr, $335,000

    To Cash Dividends Payable $335,000

    (Being a cash dividend is recorded)

    November 7

    No Journal entry is required

    December 15

    Cash Dividends Payable Dr, $335000

    To Cash $335,000

    (Being a cash dividend is recorded)
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