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On July 1, the board of directors declared a $45,000 cash dividend that was payable...

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Accounting

On July 1, the board of directors declared a $45,000 cash dividend that was payable on August 15 of the next month to stockholders of record on July 31. Prepare the journal entries required on (a) July 1; (b) July 31, and (c) August 15. If no journal entry, respond by writing no journal entry.

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