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A corporation declares a dividend of $0.50 per share on 18,000 shares of common stock. Which of the following is included in the entry to record the declaration?
A) Cash Dividends is credited for $9,000.
B) Cash Dividends is debited for $9,000.
C) Paid-In Capital in Excess of ParCommon is credited for $9,000.
D) Dividends PayableCommon is debited for $9,000.
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Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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