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Which would be included in recording the transaction

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Problem 1: When the board of directors declares a $500 dividend, which of the following would be included in recording the transaction?

A) increase in Retained Earnings, increase in Dividends Declared
B) decrease in Cash, decrease in Dividends Payable
C) increase in Dividends Declared, increase in Dividends Payable
D) decrease in Dividends Payable, increase in Cash

Problem 2: Which of the following would be the effect of a transaction to record the portion of prepaid rent that has expired in a period?

A) increase Prepaid Rent, decrease Rent Expense
B) increase Rent Expense, decrease Cash
C) increase Prepaid Rent, decrease Cash
D) increase Rent Expense, decrease Prepaid Rent

Reference no: EM132953429

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