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Question - For a Journal entry: My Trial Balance for the year ended 30 March 2020:
From TB - Share capital (shares have nominal value of 10p) £40000
Share premium account £20000
An interim dividend for shareholders of 25p per share was paid on 18 November 2019 but not recorded in the books. A final dividend of £1 per share was proposed on 19 April 2020 but has not yet been paid.
Required - What would my journal entry look like?
Would Drumz International Bank make a gain or suffer a loss? Provide the journal entry which the bank would prepare to record this transaction in its books
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