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Entries to record the payment of dividends

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Question: Northwest Clothing Supply has 3,000 shares of common stock oustanding. Please make the proper entries to record their payment of dividends.

1 - Dec Declares a cash dividend of $1 per share to all shareholders of record on Dec 15.

15 - Dec Date of record.

31 - Dec Pays the cash dividend declared on December 1.

Reference no: EM131749177

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