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Mozart & Company issued 2000 shares of 5%, $60 par value, preferred stock for $200,000. The board of ...

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Mozart & Company issued 2000 shares of 5%, $60 par value, preferred stock for $200,000. The board of ...

Mozart & Company issued 2000 shares of 5%, $60 par value, preferred stock for $200,000. The board of directors declared dividends on December 30, to be paid in January. What journal entry is necessary to record the declaration of dividends?

A)
Dividends10,000
Cash10,000

B)
Dividendspreferred10,000
Dividends payablepreferred10,000

C)
Dividends6000
Cash6000

D)
Dividendspreferred6000
Dividends payablepreferred6000

Textbook

Intermediate Accounting

Edition: 1^st

Authors: Gordon, Raedy, Sannella

Read 41 times

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nicki123

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More solutions for this book are available here

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nuppy Author

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Smart ... Thanks!

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