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Pass two journal entries to record the dividend declaration

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Reference no: EM132832956

Problem 1: XYZ company declared a cash dividend of Rs 12 per share of ordinary shares of July 1,2021, the dividends are payable on august 1. 2021 to shareholders of record on July 21, 2021. The company has 100000 ordinary shares issued of which 7000 shares are held in treasury, Pass two journal entries to record the dividend declaration and dividend payment.

Reference no: EM132832956

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