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Record the transactions in general journal entry form

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Reference no: EM133138232

Question - The retained earnings accounts of the Cozy Corporation are as follows:

Appropriation for Bonded Indebtedness P110,000

Appropriations for Contingencies 130,000

Unappropriated 200,000

During the month of August, the following transactions took place:

(a) Declared cash dividend of P60,000.

(b) Decreased the appropriation for contingencies to P100,000.

(c) Established in appropriation for Plant Expansion account with annual deposits of P20,000.

(d) Increased the appropriation for bonded indebtedness by P20,000.

Required - Record the transactions in general journal entry form.

Reference no: EM133138232

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