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SOLUTION Problem 10-1

SOLUTION Problem 10-1 - Date Account Debit Credit No Entry...

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Problem 10-1 Solution -- Recording Dividends Date Account Debit Credit Aug. 15 Dividends 50,000 Dividends Payable 50,000 Declare dividends Requirement 2 -- Close Dividend Account Date Account Debit Credit Aug. 31 Retained Earnings 50,000 Dividends 50,000 Close the Dividends account
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Unformatted text preview: Date Account Debit Credit No Entry Date Account Debit Credit Sept. 20 Dividends Payable 50,000 Cash 50,000 Pay dividends Requirement 1 -- Date of Declaration Requirement 3 -- Date of Record Requirement 4 -- Date of Payment...
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