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Prepare the entries in general journal accounts

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Question - Bain Co has authorized 200,000 shares of $1 par value common stock, of which 160,000 are issued and 140,000 are outstanding.

On May 15, the board of directors declared a cash dividend of $0.20 per share, payable on June 15 to stockholders of record on June 1.

Required - Prepare the entries in General Journal accounts, as necessary, for each of the three dates.

Reference no: EM133127658

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