Norris Company declared cash dividends of $60,000 during the year. Cash dividends payable were $20,000...
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Accounting
Norris Company declared cash dividends of $60,000 during the year. Cash dividends payable were $20,000 at the beginning of the year and $25,000 at the end of the year. The amount of cash Norris Co. used for payment of dividends during the year was
a. $65,000
b. $55,000
c. $105,000
d. $80,000
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